What is the key disadvantage of multigenerational families?
What is the key disadvantage of multigenerational families? They create stress for some members. Such families may have conflicts but have greater resources of psychologic support.
Can a person live in a house they don’t own?
One way for someone to stay on a property he doesn’t own is that the owner gives him a life estate, a guarantee he can stay there until he dies. If you inherit a house with a life estate attached, the life tenant has a legal right to keep living there.
Can a family member live in a property while waiting for probate?
Can a family member live in a deceased’s property while waiting for Probate? This is an issue that often arises when administering an estate. It may be that a beneficiary would like to occupy the property or has taken it upon themselves to simply move in after the Deceased passed away.
Can a person who inherits a house live in it?
Life Estate. One way for someone to stay on a property he doesn’t own is that the owner gives him a life estate, a guarantee he can stay there until he dies. If you inherit a house with a life estate attached, the life tenant has a legal right to keep living there.
Can a sibling live in your parents house?
Usually a life estate requires the tenant maintain the house and pay insurance and property taxes on it. At his death, or if he decides to leave, you take possession. Your sibling also could retain the right to live in the house if your parents placed the house in a special needs trust.
Can a family member live in an inherited house?
The trust required the home get sold and the successor trustee split the proceeds of the family home. The successor trustee acts as a fiduciary to the trust and must do what the trust directs them to do. Here, selling the residence with the family member living in there would have decreased the value of the house.
How long has one of my brothers lived in the House?
One of my brothers has lived in the property for around 25 years. We all had a verbal agreement with my mother that he could live there as long as he needed to. We understand that one of my other brothers is now seeking to sell the house. Can he sell his share or borrow against it, and can he force the sale of the property?
Can a sister live in a house that has been sold?
To increase the value of the property the successor trustee completed the recommended repairs. The home was listed and sold. The sister living in the home could not request to partition the property because the trust owned the real estate, and the trust directed that the home gets sold after the father died.
Can a sibling live in a house and refuse to leave?
Selling the house occupied by a sibling who lived rent-free in the home and refused to leave presented challenges. As one might imagine, it did not take long before the sibling living in the home became the bad guy. The situation escalated to more than a siblings squabble. The successor trustee needed to sell the home.