Skip to content
×
Pro Members Get
Full Access!
Get off the sidelines and take action in real estate investing with BiggerPockets Pro. Our comprehensive suite of tools and resources minimize mistakes, support informed decisions, and propel you to success.
Advanced networking features
Market and Deal Finder tools
Property analysis calculators
Landlord Command Center
ANNUAL Save 16%
$32.50 /mo
$390 billed annualy
MONTHLY
$39 /mo
billed monthly
7 day free trial. Cancel anytime
Buying & Selling Real Estate
All Forum Categories
Followed Discussions
Followed Categories
Followed People
Followed Locations
Market News & Data
General Info
Real Estate Strategies
Landlording & Rental Properties
Real Estate Professionals
Financial, Tax, & Legal
Real Estate Classifieds
Reviews & Feedback

Updated about 9 years ago on . Most recent reply

User Stats

1,078
Posts
726
Votes
Jeff Kehl
  • Rental Property Investor
  • Charlottesville, VA
726
Votes |
1,078
Posts

Land held by a life estate?

Jeff Kehl
  • Rental Property Investor
  • Charlottesville, VA
Posted

I only just recently learned what a 'life estate' is and why someone would do that. But I came across some raw land that is up for tax sale that the title is held by 'John Doe Life Estate'. So I'm wondering why anyone would do that and what sort of rights they would have anyway?

I read back through the last dozen or so forums about life estates and it is always about letting an elderly relative stay in a house until they die. Why would you give them rights to raw land until they die? Hunting?

I think if I bought at tax sale the life estate would not matter because sure they could go wander around on it if they wanted but it wouldn't matter. This is fairly remote land only suitable for harvesting timber or hunting.

It looks like the life estate was granted in the 80's and my county does not have records online that far back so I can't look up the original document.

Anyone have experience with this?

Loading replies...