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Updated over 8 years ago on . Most recent reply

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1,078
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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?

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