life estate question

[vintagecoils]

What is the name of your state?

The Home is in New Jersey. In 1983 when a comprimise between my parents was settled(separated but no intentions to ever divorce) they decided to transfer the home to myself for a stated sum of 60,000.00. ( I had promised to take over the paying of the taxes for my mother. Dad wanted to be free from the financial burden)
Then they had the statement put in "The Grantors retain for themselves or survivors of them a life estate in the premisis." It was a meeting with the lawyer my DAD, myself and my Mother. ( She now claims not to remember but not important).

Additionally, a clause was placed in at suggestion of lawyer who now claims he didn't but it went like this " If and when the Grantee shall sell the property covered by this deed it is agreed that the profits of said sale shall be divided equbetween her siblings who are alive at time of sale. Or issue etc. This clause is intended to give the grantee full power to transfer and convey the within real estate subject only to the aforementioned life estate"

It was explained to me that I would be sole owner and my parents and I had a life esate. QU#1. do I have a life estate?
Qu#2 Profits would indicate above the originall 60,000.00
Qu#3 Doesn't clause indicate I would have to have sole ownership in order to legally have full power to transfer and convey? as joint owner now clause is invalid?

Then a few months later(1984) when my mother went to sign the new deed and told the lawyer she wishes to be placed back on the deed. So they did and it was then my name and my mothers name. However, the lawyer did not remove the clause. (He now says he should have)

Problem now. 2004 I came into trouble with a equity loan on the property. My father passed 1993. My mother is 91 now. She had continued to refuse me ever living at home but agreed to the loan and signed the morgage for approval in 1994. Due to divorce and loss of job they only other recourse was to move in and live and pay morgage and then try to refinance. Mother refused. This was late 2004 and I thought to try and sell to avoid foreclosure. My reasoning was, House too big for mom(large turn of century 2 story), maintainance behind(mother refused to let me in to do repairs. Plumbing, noo heat, plastered walls crumbling, flooding in cellar huge yard turned jungle) Taxes over 5000.00 per year. We were offered a good as is price and I was going to owner finance so that would push up the total. Loan balance would have been paid off with my portion and still plenty left for me to start over elsewhere. I had a mortgage in maryland I could have paid way down and saved on finance charges.
My plan was to invest mothers share in a nice newer townhome in neighborhood. Better suited for her physical condition, and for possible in home nurse care. ( Mother had begun to hord sum 15 years prior and you could barely get in)
I also felt is was the best opportunity to get my mom out of that house. I figured it was a better investment all the way round and would still have assets for my mother to divide in a will. Would be worth alot more too.

Well mom calls my sister who had not ever done any thing to help with this house. When she read the deed she felt she and my brothers had rights to the proceeds. When I informed her that that clause was invalid and we were tennacy in commons she was angry. She than called me said she was Mom's P.O. A. and would not sell house. She then told me to quit claim a deed to her. I asked why was I giving her a house. She hung up. Then I had to cancel the sale and could get no info from my mother. I tracked the foreclosure and could not get my sister to talk to me. My lawyer said she should buy you out. I told my mother that but no response. He said I would get more money from a foreclosure than to give her the house. Than could sue her if the house was lost in foreclosure. It was to close to try a forced sale. Well she reinstated the loan.
Now 2007 May I noticed on a web site of properties that my home had been sold 2004. I stayed in touch with my mom but she only said my sister was taking care of things and hs did not know what. My sister would never return my calls.

Well turns out she had sent some papers to my mand said "if you want me to take care of this you need to sign some papers to give me power to handle it". My mom sign and returned them. Well they were deeds of transfer of the property and a mortgage on the home. I have since retained the original lawyer who wrote the original deed. He has admitted he should have removed the clause. He also is going to see what can be done about getting the property back. He has assurred me though that my mom can't transfer what isnot her's and I am still owner of 1/2 portion of interest in the home. There is still a balance on the loan. But there is this new mortgage by my mother just before she supposedly transferred the property. 6 days exactly. It says it was transfered for 30,000.00 to my 3 sibilings by name as tennants in commons.

They included a statement for a life estyate for my mother but also stated that my portion is to be divivded amonst them when its sold QU#4 Can they reach over into my portion with a clause is unexucutionable? The lawyer is expensive and I need my mom protected first but I want to see what I can fight for my self with out getting a lawyer.
Also reference my other question, Qu#5 if I had a life estate do I still have one in my mothers portion as the lawyer is stating mother has in my portion?

Finally, just in the spring my mother restated that her 1/2 was to be divided between the four children. Now with out her decision I no longer have an inheirtance in her share.

I had planned on using that to settle with my sister or the loan in the future. Since she has taken over my mothers share and cost my thousands in finace charges I don't see where I owe her at all. Now this situation has only cost all involvled more money and pain. House prices have fell and the taxes are now 5400.00 .

My mom may not fight if she knows she gets to stay. But I need some information to see what I have to bargin with . My sister and brother are attemping to make it so there is nothing left for me and that I still pay both mortgages. Then they will get the full amount.

Any help appreciated. I want to avoid paying another lawyer for me but would rather have and idea what I can do if I need to.

 

[seniorjudge]

I got this far (and then quit reading):

Then a few months later(1984) when my mother went to sign the new deed and told the lawyer she wishes to be placed back on the deed. So they did and it was then my name and my mothers name. However, the lawyer did not remove the clause. (He now says he should have)

You all (meaning you, the lawyer, ma, and pa) have probably screwed up the title to this land but good.

Now, here's what you do: Go to a reputable title company doing business in the county where this real estate is. Have them run a title report, after you have told them your story.

Then take that title report to a good real estate/probate attorney.

 

[tranquility]

Depending on the results above, you might see someone about malpractice as well. This is most probably going to cost a few dollars to straighten out and any attorney competent in the field would not make such an error on a deed.

 

[vintagecoils]

Thank you,

You confirmed some fears I have. Yesterday I was reading about how the courts may not honor a reversesal if it was a mistake of law but maybe for a mistake of fact. Thats when I was thinking the lawyer may not really be able to do anything because he is at fault. Or he may try to avoid us from finding out we could sue him.

My sister has made some threatening noise of late with deadlines of Sept now August 1st.

I am trying to find something that could stall or force them to ( my sister ) bargin. We canceled my sister's power of Attorney last week.

But I still need some info on the statement of the "retained life estate for themselves or survivors." Any body Know? I have searched the internet but only comes up with Wills with the same statement but no info on the exact meaning.

Thank you again.

 

[lcannister]

We canceled my sister's power of Attorney last week.

Who is we? Is Mom this cooperative with you that she being of sound mind made this decision on her own or with a great deal of input?

You all seem to be pulling mom apart trying to get at this property.

they decided to transfer the home to myself for a stated sum of 60,000.00. ( I had promised to take over the paying of the taxes for my mother

Whose idea was this and why and were the other siblings in on this tansaction and know what was going on? If not they may feel they have a right to be ticked off. Was the home worth more than 60K when you bought it?

 

[vintagecoils]

Who is we? Is Mom this cooperative with you that she being of sound mind made this decision on her own or with a great deal of input?

You all seem to be pulling mom apart trying to get at this property.



Whose idea was this and why and were the other siblings in on this tansaction and know what was going on? If not they may feel they have a right to be ticked off. Was the home worth more than 60K when you bought it?

In 1974 my father and mother separated. She put him out. He continued to care for the home and pay taxes. He did not want a divorce and wanted her to recieve full benefits of his pension. In 1983 my Dad wanted to sell and settle up with my mom. He wanted to leave the area and take care of a sick sister who was a widow. The house was appraised at about 50,000.00 at that time. My mother called me,(I was stationed in Illinois with the Navy) to talk to my Dad because she did not want to sell. She did not work either. She had his pension only. I offered to take over the taxes and upkeep instead of a sale. My dad agreed and considered that would be a sufficient method of paying them for the house. My mom agreed and got to keep the house and full pension status because no divorce.

My mom is no push over. The reason she called me was because I was the only one of the four children who never argued with her or gave her any grief. She liked to get her way and I was always compliant and would give her anything I had. She and my dad knew their other children. They were my older brothers and sisters but they went off to live there lives build their homes and never looked back. I am the only one who ever brought her children to visit my mom in the home. The othes stated they did not want their children in "that House" as they referred to it. My sister and brother now refers to my Mom as "that person" or "Mrs. Robinson" For 22 years none of them visited and my brothers only called when they needed money. My parents put all three through college but had no more money to help me. They helped the others with their weddings and children. According to the original deed when my parents purchased the home my Dad paid 100.00 and other good and valuable considerations for the home in 1961. He and mom was satisfied I offered to pay the sum I did basically to free them up of paying taxes for many years. I loved my parents dearly and would never ever thought to cheat or mistreat them.

My dad did not however want me paying to take care of the house and years later the othes come back for a part. Then for the next 10 years my dad continued to have to help my brother finish college debts so he cold become an officer in the Marines. My sister needed help during her first divorce and my dad and mom was there for them. I had a great Dad but he was fair and practical. If it had been in my brothers name it would have been gone ten years ago. He got into huge financial debt and went through bankruptcy and a divorce. I was a single Mom in the Navy and I was more stable at that time then the other three. They had all just bought new homes.

MY mom wanted to be in charge and she was with me. She would have had troubles with the others and that is why she called me into it and not them. A year and a half before my father died, unknown to myself and my mother my brother went to my aunts and talked dad into moving in with him. I later found out from my mom. Dad went down mentally but was physically fine. My brother had became P.O.A. and was using dads pension . He had remarried and was in finacial trouble again. I was stationed in the Far East during some high alert times and could only try to attempt to contact him. I heard my brother had to file another bankruptcy. My dad suddenly passed and was buried before I could come back. Two bank accounts I shared with my dad was emptied and the bank said someone claiming to be me with a P.O.A came to get the money. This was the first time my brother heard about the house. He approached my mom and wanted her to sell because he needed money. She said no and he got mad. That was 1994.

My intentions have always been for my mom. Its just that at 91 the house is huge and unmanageable. She is still stubborn and won't let work be done. Even if I wanted to hire someone to come in its impossible because of the condition. A move to a newer place is what I wanted for her. The equity would have been increaseing, not decreasing. My dad wanted that house to benefit my mom and I. That is clear.

Now I have to look out for my interest. I will not impose on my father something he did not desire and don't feel I should have to. WHAT IS WRONG WITH PARENTS MAKING A CHOICE OF THE PROPERTY AND WHO GETS IT.? Its not like I did not pay anything for it. If they felt they helped the others enough that was their decision. Isn't it? My brother claims my DAd was wrong and evil. To hear them talk we are the new axis of evil. I don't spend my energy trying to reason out their thinking.


As it is now my mom can't even afford dental care and can not get a loan or sell to relocate if she wanted to. She is now trapped in this big house paying ever increasing taxes, high heating bills on a fixed income. I am struggling because the loan is still in my name and have not been able to recover. I am facing high heating bills thia winter and just don't know how I will manage. My siblings all have new homes to live in. I think that is great for them. I don't think its great that they have a hold on the whole situation just because they think they can make a forutne on the place after my mom passes. They won't buy me out. They are thinking they can block me from recieving any money from the house.

I just want some information to be able to defend my rights. I thought we had a good reale estate lawyer. Obviously if you don't know anything you can't know whether they are right or not. Even a title office could miss something or over look my rights.

So if any one has some info on the questions or situation that could even lead me to a statute in New Jersey I would appreciate it.

 

[vintagecoils]

Who is we? Is Mom this cooperative with you that she being of sound mind made this decision on her own or with a great deal of input?

You all seem to be pulling mom apart trying to get at this property.



Whose idea was this and why and were the other siblings in on this tansaction and know what was going on? If not they may feel they have a right to be ticked off. Was the home worth more than 60K when you bought it?

When I say we I meant the lawyer and my mom and I. The lawyer is now concerned that my sister may use the P.O.A. to place my mom in a home. But the law changed and you have to wait 60 months to receive Medicade nursing care after transferring property. If they try and sell they have made no provisions for my mothers care. She would have no claims to any proceeds and woould be denied two years of nursing home medicare.

We just want to regain some control so to create the best situation for my mothers care. I even suggested a reverse mortgage to provide her with home care.