Legal Question in Real Estate Law in Connecticut

Can I sell my duplex and give an elderly couple life use of one side? The couple are 85.


Asked on 6/01/12, 7:24 am

1 Answer from Attorneys

Christopher McCormick Steier & McCormick, LLC

Yes you can. The deed to the new owner will have to specifically identify the side of the duplex the life use is being given to the couple. I assume this couple may already be in possession of this unit and possibly a tenant and/or relative of yours. If you are selling to a third party you either will have to sell it for cash or if the buyer needs a mortgage the elderly couple will need to sign a schedule to the mortgage subjecting their life use to the mortgage assuming the buyer's lender is willing to even allow this. The risk to the couple with the buyer having a mortgage is that if the buyer defaults and the bank forecloses it would foreclose out the life use of the couple a result I'm sure you would want to avoid.

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Answered on 6/01/12, 7:48 am


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