Legal Question in Real Estate Law in Illinois

Who is the legal owner of property in a lfe estate? My husband passed away and I placed the property I received into a life estate to ensure no-one contesting a will and that the property would go to my son. The deed reads does sell and convey to, my name, as a life estate only.

Asked on 11/12/09, 1:06 pm

3 Answers from Attorneys

Bradley Sayad Lebow, Malecki & Tasch, LLC

Its only your property until you die. It should then go to whoever is named as a remainderman.

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Answered on 11/17/09, 1:40 pm

Your attorney did not fully explain this to you beforehand? While this kind of estate planning is not unusual, most people do not go the route of creating a life estate. I'm concerned why your attorney did not better explain it to you when you agreed to create it. You said you did this, not your husband, no?

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Answered on 11/17/09, 2:42 pm
John Lee John D. Lee and Associates, LLC

Based on what you said, your heirs would get the property, unless there is an unpaid mortgage or real estate taxes due, then perhaps there would be a foreclosure and sale. Do you need an attorney?

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Answered on 11/17/09, 2:57 pm

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