[WSBARP] Life estate & cotenancy

[Craig Sjostrom]

Hi all

 

Mom (unmarried) has 2 kids (brother and sister), who don't get along.
Brother lives on a parcel of property with mom. Mom previously deeded the
property to both kids, reserving a life estate (the property's all paid
for). Sister wants out, and is threatening a partition (probably after mom
dies). Sister has asked for a buyout from brother, to no avail. Mom now may
be willing to pay the buyout amount to sister, to preserve whatever minimal
family harmony may be left.

 

If mom does that, sister wants to deed her remainder to mom rather than
brother. I think that if she does so, mom's life estate will merge into
sister's remainder and the outcome will be mom and brother being tenants in
common with no life estate. I think it's better for sister to swallow her
pride and deed her interest to brother, so mom's life estate is unaffected.

 

But, what do you all think?

 

Craig

 

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> Law Office of Craig Sjostrom, 1204 Cleveland Ave., Mount Vernon, WA  98273
Phone (360) 848-0339  Fax (360) 336-3488 email
<mailto:cdsjostrom at comcast.net> cdsjostrom at comcast.net

 

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