What is the name of your state (only U.S. law)? Arkansas
I think I posted this question in the wrong forum, so am posting it here?
In 2008, my father died intestate. He left behind his half of a commercial property in Arkansas; the other half is owned by my two cousins. Per Arkansas law, my step-mother received a life estate (something called a "fractional life estate") and I and my step-sister each received an undivided one-half interest in the property. My question is: who has to pay the property taxes on my family's portion of the property? My understanding is the Life Estate owner is responsible for those. My step-mother is saying my step sister and I each have to pay 1/4 of the taxes each. Who is right?
I think I posted this question in the wrong forum, so am posting it here?
In 2008, my father died intestate. He left behind his half of a commercial property in Arkansas; the other half is owned by my two cousins. Per Arkansas law, my step-mother received a life estate (something called a "fractional life estate") and I and my step-sister each received an undivided one-half interest in the property. My question is: who has to pay the property taxes on my family's portion of the property? My understanding is the Life Estate owner is responsible for those. My step-mother is saying my step sister and I each have to pay 1/4 of the taxes each. Who is right?
