life estate problem (Virginia)

[10ECPreacher]

My wife and I were given properties by Deed of Gift. At the same time her father was given a Life Estate to these properties. We are concerned that some of his real estate negotiations/maneuvers with these properties are not entirely within the boundaries of legality. What is our liability with these properties? To what extent are we responsible for the mismanagement of these properties? Some of the properties are being rented/leased, and others are under contract of sale and/or lease-to-purchase options.

Thanks in advance for your help.

 

[HomeGuru]

You need to get all copies of the contracts (lease option, contract of sale etc.) and other docs such as life estate etc. and have an attorney review them together with the title reports.