Can you revoke a life estate deed?
Due to this termination, a life estate holder cannot transfer his or her interest in the property through a will.
Importantly, a life estate cannot be revoked.
Therefore, once a person sets up his or her ownership of a property in a life estate, he or she cannot sell or otherwise dispose of the home.
Can you change a life estate deed?
While a life estate would avoid probate, the problems you could have might easily outweigh this benefit. You cannot simply remove or change a name once it is on a deed to real estate like you can change the beneficiary on a life insurance policy or bank account.
Does a person with a life estate own the property?
A person owns property in a life estate only throughout their lifetime. Beneficiaries cannot sell property in a life estate before the beneficiary’s death. One benefit of a life estate is that property can pass when the life tenant dies without being part of the tenant’s estate.
Can Remainderman sell life estate?
Yes, the remainderman was legally able to sell/transfer his interest in the real estate without your consent. Of course, the buyer/grantee takes title subject to your life estate, meaning your life estate still exists.