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Last Login: 9/5/2008 6:33:09 PM
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| my father in law gifted the family home to his daughter. Her name is on the deed with the father having lift time living rights. The father has not lived in the house or on the property for over 5 years. He does not contribute to the up keep or maintence of the house or property. At the fathers request the daughter took out a loan/mortgage on the house and gave him a little more than double the price he originally paid for the property. The exchange of monies occurred at the time of the gifting. The father has NOT contributed any money toward the repayment of the mortgage or the taxes. He verbally promised to pay the taxes, but never has, the daughter has paid for all the upkeep, maintence, mortgage, and taxes on the property. The house is her primary residence, and has been since before the gifting if the property. the father now wants the daughter to "sell" the house and is demanding $50,000.00 What are the daughters rights. Does she have to sell the house? Does she have to give him any money beyond what she already has? Please help with information if you can. This is in the state of Virginia.
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Last Login: 5/27/2008 11:04:45 PM
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| I'd say first that the daughter needs a lawyer and that I do not know Virginia law in particular. That said, typically the so-called "life tenant", the father in this case, has the obligation to pay for the upkeep and taxes on the house. That said, one would expect someone else living in the house, the daughter in this case, to pay rent. Of course, she may have more than covered this by taking out the mortgage and paying her father a large sum. Who owes whom in this situation is hard to say without looking at all of the numbers. In terms of a sale of the property, the father has a right to the value of his life tenancy, based his age and the value of the property. Without more information, I can't say whether that is more or less than the $50,000 he is demanding, or whether this too has been covered by what the daughter has already paid her father. In short, the outcome of this matter will be determined by the facts. It does show, however, that any transaction concerning real estate should be carried out with all of these issues discussed in advance.
Harry S. Margolis
ElderLawAnswers
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