Legal Question in Real Estate Law in Massachusetts
life estate deed
I am selling my home to my daughter & son-inlaw however I would like to keep a life estate. Please give me the correct language to put into the deed in Massachusetts.The price is below market value so they will pay all expenses and I will allow them to use the property with us. I will be using the property during the summer months. I go to Florida in the Winter Thanlk you
1 Answer from Attorneys
Re: life estate deed
The correct language will depend on what rights you have, who you are deeding to, and specifically what you want to do.
This is not an area where you want to do it yourself. If you make a mistake, your children could lose the house, or you could end up losing the house. For a few hundred dollars, you can have this done professionally, and have the peace of mind that it was done correctly. The registry of deeds will record whatever you present, you cannot depend upon them to act as your lawyer.
One of the highest costs for malpractice insurance is for attorneys who practice real estate law. When things go wrong, and they do even for experts, it is extremely expensive to fix things.
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