Can I Sell My Beneficial Interest

[roamer5]

What is the name of your state? FL

This relates to some previous posts of mine about life interest. I am the beneficiary of a condo of which someone has a life interest. That person has not resided there for at least two years and has no intention of returning.

A real estate investor has offered me 75% of market value understanding the situation. I will sign the necessary papers so that when the life interest no longer exists (buyer will probably file for partition), the buyer receives the property rather than me.

Is this a legal transaction and are there any potential problems for either the buyer or myself?

 

[HomeGuru]

What is the name of your state? FL

This relates to some previous posts of mine about life interest. I am the beneficiary of a condo of which someone has a life interest. That person has not resided there for at least two years and has no intention of returning.

A real estate investor has offered me 75% of market value understanding the situation. I will sign the necessary papers so that when the life interest no longer exists (buyer will probably file for partition), the buyer receives the property rather than me.

Is this a legal transaction

**A: yes.
*********


and are there any potential problems for either the buyer or myself?

**A: yes. Consult with your attorney and CPA.