life estate

[spot]

What is the name of your state?What is the name of your state?
NC. I have been granted a life estate for a property in SC by my late husband with the property going to the neice and nephew at my death. Is there a way to disolve or for them to buy my share in this estate? Can I mortgage the home without their signatures?

 

[nextwife]

If you can actually find any lender that will mortgage your life estate interest, you can mortgage the interest you have.

You have no "ownership" of the property, only a right of use until your death, under whatever the terms of the life estate may be.

 

[spot]

There were no "terms" stated in the will. Are verbal agreements with remainderment a binding contract in NC?

 

[BelizeBreeze]

simple answer is no. If it's not in writing, it doesn't exist.