QUESTION
when there is a life estate and the owner dies does the house go back into the life tenant name
Asked on Aug 10th, 2021 on Trusts and Estates - New York
More details to this question:
my mom bought a house from my grandma for a dollar with my grandma having life long use of the house. my mom recently died and my grandma was put in a nursing we are trying to figure out who owns the home
1 ANSWER
Estate Administration Attorney serving New York, NY
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Damien Bosco, P.C.
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Hello. My name is Damien. I am a Trusts & Estates attorney in New York City practicing in the New York City metropolitan area. The heirs of the remainderman would inherit the property when there is a life estate. The remainderman in your situation would be your Mother. When the remainderman dies before the life estate holder (your grandmother), her interest in the property would pass to her heirs or to another remainderman if there was one. If you need any assistance, a New York Trusts & Estates Attorney could help you.
Answered on Aug 11th, 2021 at 5:14 AM