QUESTION
what rights do a life grantor have to their property if a life tenant has it ?
Asked on May 27th, 2012 on Estate Planning - Florida
More details to this question:
such as, can the grantor take out a loan or mortgage on the property that the tenant is staying in?
1 ANSWER
Probate & Trust Attorney serving Sarasota, FL
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Christopher K. Caswell, P.A.
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It depends what the deed says. Normally a typical Life Estate Deed would not allow the holder to mortgage the property. An Enhanced Life Estate Deed would usually a mortgage to be placed on the property and would allow the holder to sell the property as well.
Answered on May 27th, 2012 at 3:15 PM