Is There a Way to Have Someone's Life Estate Removed?


Attorney Thomas B. Burton answers a reader question about whether there is a way to have someone's life estate removed from a piece of real estate in Wisconsin.


Transcript of Video: Is There a Way to Have Someone’s Life Estate Removed?

Today's question has to do with a life

estate and the reader writes from Three

Lakes Wisconsin is there a way to have

someone's life estate removed if so must

I as the remainder person pay them their

financial share he goes on he/she goes

on to explain a married couple has a

life estate on a property I own in

Wisconsin it is used as a vacation home

thus they have never spent anywhere near

consecutive 12-month period there could

their life estate be revoked for this

reason are there special considerations

for properties which are considered

vacation homes alternatively could their

life estate be revoked because they

insist I handle all upkeep and pay all

taxes and utility bills so in general

there's no special consideration unless

the deed says so about the 12-month

requirement you mentioned a life estate

is granted for the life of the person

unless in the deed it says they must

occupy the property a certain amount

there's no general rule that they have

to occupy it for 12 months if you are

tired of the life estate person

you could offer to buy them out because

their life estate is an interest they

could sell so that might be one option

it depends on who created the life

estate who is supposed to pay the upkeep

and taxes generally a life tenant would

be responsible for paying the taxes but

this could be altered by agreement

between you or the instrument that

created it in addition you sounds like

you got into this life estate without

you wanting it so I would think of some

creative ways again to get out of it

like perhaps you offer to buy out the

life tenant so they don't use the

property anymore or if the

deed creating the life estate has

specific rules that the life tenant

isn't following perhaps you could use

that as a reason

to terminate the life estate I suggest

you speak with a qualified real estate

attorney in your area who can take a

look at this deed and advise you on your

best options great question and thank

you for asking!

© 2019 Law Office of Thomas B. Burton. All Rights Reserved.

Transcript and captions provided for ease of access for the hearing impaired.

For questions about this topic, or to suggest a topic for a future blog post, please contact my office.

#RealEstate #LifeEstate #WisconsinLaw #WisconsinLawyer #EauClaireLawyer #EauClaireRealEstateLawyer #Deeds #WisconsinAttorney

© 2020 by Burton Law LLC

 

FOLLOW MY OFFICE ONLINE:

  • Google+ App Icon
  • Twitter App Icon
  • Facebook App Icon