Question About Life Estates and Remainder Interests
Hi -- My Mom has given me all her real estate with her keeping a life estate interest. My question is can she or my brother who has her Power of Attorney take back my remainder interest or sell the property without my consent or knowledge? Would I be notified if this were to happen? My brother has already received nearly all of her cash assets, leaving her only a small portion of a once substantial nest egg. He has been having financial problems and I am afraid that once he uses up what he has been given, he will try to take my part. She has always favored him and he can persuade her to do anything he wants. I am living with and caring for my mother with no help from him and I just want to know how, or if I even can protect myself from this happening. I can't afford a lawyer. I would appreciate some advice quickly as my brother has been calling Mom on the phone frequently for a few days and that usually spells trouble.
Thanks for your help!
1 Answer from Attorneys
Re: Question About Life Estates and Remainder Interests
If your mother has given you her Real Estate, she should have a signed a Deed to that effect, which you should have recorded at the Register of Deeds. If she has not a signed a deed in favor of you, you do not a have any interest in the property.
Once the deed has been recorded you are the legal owner of the property. The only thing your mother has is her life estate, but nothing more.