Mom wants life estate interest back

[canning]

What is the name of your state (only U.S. law)? MN
Help!! I just got a letter from my mom's attorney saying that my mom wants me to sign a quit claim deed giving up my rights(life estate interest) to her house. She gave me these rights six years ago and now wants them back. What should I do ? If I sign the deed does that mean I get nothing when she dies? If I refuse will they sue me? Please help. Also I am married and they want my husband to sign too. thanks for any help..

 

[xylene]

What is the name of your state (only U.S. law)? MN
Help!! I just got a letter from my mom's attorney saying that my mom wants me to sign a quit claim deed giving up my rights(life estate interest) to her house. She gave me these rights six years ago and now wants them back. What should I do ? If I sign the deed does that mean I get nothing when she dies? If I refuse will they sue me? Please help. Also I am married and they want my husband to sign too. thanks for any help..

You should consult a lawyer before you sign anything.

 

[tranquility]

A life estate is a property interest. It's yours and a quit claim will make that interest go to whoever you quitclaim it to. (If to the person with a remainder interest they will merge and become one again.) If no money changes hands, it would be a gift.

The life estate is usually for the person living in the house. I bet you mean you have the remainder interest here. (In that when the measuring life dies, you get the property.) But, I don't know.

Because the interest is yours, you don't have a responsibility to sign it back over absent other facts you aren't mentioning here. They can't sue you just for not signing. (Although they may have a cause of action for other things.)

 

[canning]

Yes I have remaindermen interest in the property andshe wants me to sign a quit cliam deed and give it back to her. I do not want to sign anything. Her lawyer says " a possible lawsuit may be forthcoming against me if I don't sign the quit claim deed" I do not know how he can say that because when she gave it to me it was of her own free will and doing .. So if I don't sign will they really sue me? and what could they sue for? I have done nothing wrong and this was suppose be a gift and keep her house out of probate. please..please help.

 

[HomeGuru]

Yes I have remaindermen interest in the property andshe wants me to sign a quit cliam deed and give it back to her. I do not want to sign anything. Her lawyer says " a possible lawsuit may be forthcoming against me if I don't sign the quit claim deed" I do not know how he can say that because when she gave it to me it was of her own free will and doing .. So if I don't sign will they really sue me? and what could they sue for? I have done nothing wrong and this was suppose be a gift and keep her house out of probate. please..please help.

**A: why is she all of a sudden changing her mind? Something must have happened.

 

[justalayman]

So if I don't sign will they really sue me?

it's your mother. Pesumably you know her better that we do.

and what could they sue for?

rescission of the deed she signed

I have done nothing wrong and this was suppose be a gift and keep her house out of probate.

but yet, mom wants to rescind the deed. there must be a reason. got any ideas?

 

[nextwife]

Maybe mom's current financial situation requires liquidation of her RE holdings?

How is she doing financially?

 

[justalayman]

Maybe mom's current financial situation requires liquidation of her RE holdings?

How is she doing financially?

it would appear her RE holdings are the life estate. She can sell her interest, if she can find a buyer but unless there is some legal argument that would allow her to rescind the transfer, her RE holdings would no longer include a fee interest in the house in the discussion.

 

[tranquility]

ASK the attorney why he thinks you HAVE to sign.

 

[canning]

Nothing has happened between us to change her mind, but I think that she is not all their because she just got out of the nursing home 2 months ago and they recomended that she get life alert because she falls alot, but my sister is there and suppose be watching her. I think my sister wants the house to herself after mom dies and is working on mom to get the house.
If my mom decided to sue me for rescission what are her chances of winning? And how much will that cost her?
My mom is very comfortable and the house is paid off so she has about 60k in the bank.
Also could I just sell my remainderman claim to someone else?
Her attorney is of no help and I can't really afford to get my own attorney as I am on social security. please help thank you

 

[justalayman]

If my mom decided to sue me for rescission what are her chances of winning?

based ONLY on what you have provided, slim at best.

And how much will that cost her?

that would depend on a lot of different factors.

Also could I just sell my remainderman claim to someone else?

yes

 

[canning]

thank you for all the advice.. Also if I sell my remainderman interest to someone else can she go after them and try and get it back?

 

[justalayman]

she can try anything she wants. Doesn't mean she has any chance of winning but she can spend every cent she has trying if she wants.

 

[tranquility]

Attorneys don't get to make idle threats of lawsuits. There is clearly something in how the OP got the deed which is under suspicion or under some other duty (such as fiduciary).

I would suggest the OP get legal advice before selling the property. While from his facts it is his to sell, there is something missing here that he is intentionally not saying. Getting rid of the property changes nothing as to his liability to mom if he loses beyond making things more expensive if he is found liable for whatever issue is being asserted.

 

[franknmaggie]

Quitclaim

I am NOT a legal expert, merely someone who may have travelled the same path you are on. My father became very beligerant and paranoid 8 months before his death. His "friend" and caregiver pressured my father to change his will and trust, after my sister and I lovingly refused to sign a legal document giving up our interest in the trust or any properties in perpetuity. We knew something was up but could not get a doctor to evaluate our father for dementia. He was still somewhat able to self-direct, but seriously impaired regarding judgement on financial issues. Just about the time we were able to get him evaluated in the hospital, after the time period in which he continued to deteriorate mentally, he died. We are still in litigation trying to undo all of the evil things the caregiver coerced him into doing during the final months of his life. My point is this: Love your mother enough to have a medical professional, social services, or an elder ombudsman evaluate her mental state. Watch your sister like a hawk, and do not sign the quitclaim deed. Again, I'm not an expert - just experienced...