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GlloriaB (South Carolina)
Posts: 7
Posted:
Due to illness and having to retire, I obtained a life estate on my home. This was handled through an attorney. Deed changed to include son and daughter in laws names and of course mine. HOA demanding copy of transaction because they feel my son bought the house from me and that I am no longer the owner; thus cannot be on the BOD or have a vote Need some advice.
DonnaS (Tennessee)
Posts: 5,671
Posted:

Gloria,
Have your attorney send a certified letter to the Board showing the ownership listing . The Board does not need to see any other part of the documents including the transaction. But you do need to show proof of ownership to them. Geez, how long have you been a member of the association?
PaulM (Pennsylvania)
Posts: 1,347
Posted:
GlloriaB: Make it clear to the Board that you have only ADDED your son/daughter for estate purposes, but you remain on the deed as well. You
want to go on record with the Board that you will continue to be a member in good standing with all fees paid when due, and continue to enjoy the privileges of a member of the assn.

You may want to put the deed name/addition in a letter to them so they have it for your owner file.

GlloriaB (South Carolina)
Posts: 7
Posted:
Thank you for the response. I appreciate it.
SusanW1 (Michigan)
Posts: 5,202
Posted:
What is a "Life Estate" - is that the same as establishing a trust?
GlloriaB (South Carolina)
Posts: 7
Posted:
I have been a member for 16 1/1 yrs and in good standing; have been on the BOD for 5 yrs at different times. Have some real nastys' running it now. Thank you for your response. Helpful. g
GlloriaB (South Carolina)
Posts: 7
Posted:
Sort of the same. I still am an owner just added my son and his wifes name to the deed so they get the house upon my death. Assoc. thinks I'm trying to pull a fast one and demand a copy of the new deed. Hard to imagine because I have been an owner here for over 16 yrs. Thanks, g
HaroldS (Arizona)
Posts: 906
Posted:
How did they even find out about this life estate? Harold
HaroldS (Arizona)
Posts: 906
Posted:
Sorry, clicked too soon. Was wondering if they consider this a transfer and want a transfer fee or something like that. Your lawyer needs to write them a strong letter. H
WayneB3 (NV)
Posts: 51
Posted:
My personal viewpoint is that I would want to get as far away from people like that, trying to make my remaining days as happy and stress free as possible.
JanP1 (Arizona)
Posts: 76
Posted:
Source http://en.wikipedia.org
A life estate, is a term used in common law to describe the ownership of land for the duration of a person's life. In legal terms it is an estate in real property that ends at death. The owner of a life estate is called a "life tenant".

Although the ownership of a life estate is technically temporary because it ends at a person's death (a tenancy), it is treated as complete ownership (fee simple) for the duration of the person's life, subject to limitations. Because a life estate ceases to exist upon death, the owner of the life estate cannot leave it to heirs, and the life estate cannot be inherited.

An owner of a life estate cannot also give a greater interest than is owned. That is, a life estate owner cannot give complete and indefinite ownership (fee simple) to another person because ownership in the property ends when the life tenant dies. If, however, the original grantee has sold his life estate [ex. from A to B], B's interest lasts until A dies, allowing B to bequest his interest, sell the land, etc. until that point. Once A dies, however, whoever possesses the land loses it (with the land likely reverting to its original grantor). This is a life estate "pur autre vie," or the life of another. Such a life estate can also be conveyed originally, such as "to A until B dies."

GlloriaB (South Carolina)
Posts: 7
Posted:
Because I thought an individual was a friend and I said my son bought my house and I guess that in itself was misleading. When I tried to explain it the assoc. demanded a copy of the new deed etc. g
GlloriaB (South Carolina)
Posts: 7
Posted:
Thank you, I especially appreciated the explanation of fee simple because covenant states mtg. (which there is none) must be fee simple. g
DonnaS (Tennessee)
Posts: 5,671
Posted:

Gloria,

I know that this got off on the wrong foot between you and the Board but what they are asking for is not uncommon as all condos and many townhomes and shared units do require a copy of the deed. I hope that by now you Attorney has made a copy for you to present. It is the right thing to do and as I said, not uncommon at all.
GlloriaB (South Carolina)
Posts: 7
Posted:
I know what you mean and appreciate your comment. I feel a little stubborn regarding this because of the mean way I was approached. I know what has to be done. g
DonnaS (Tennessee)
Posts: 5,671
Posted:

Gloria,
I am just like you and especially that you have been a Board member, it gets you upset. I hear what you are saying. Sometimes we rule by our heart and not by our heads. Good luck to you.

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