my mom deeded her land to her children subject to a grantors life estate. is it possible for me to give my nephew right to life estate on my share without all having to sign? and can i do it now or after moms death.she also wants nephew to be able to live here.
1 Answer from Attorneys
You can definitely give your nephew a life estate in your share of the estate...but that is essentially worthless.
Once your mom passes, you will share the estate with (1,2, 3, ect...) siblings. You can only transfer what you have, so he will have a life estate subject to the undivided right of others to have the home. Unless they all sign off on the life estate, they could partition the home and sell it. effectively ending the life estate...get a real estate attorney to assist you with this.