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  1. #1
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    Default Life Estate Deed

    My question involves real estate located in the State of: Florida
    Property was purchased for a large sum. Grantor filed a quit claim deed but included language in the deed equal to that of a life estate deed that would give ownership back to the grantor upon the death of the grantee. This was unknown to the buyer and done without the buyers consent. The grantor also failed to report the amount of money recieved for the property. What can be done to fix this?

  2. #2
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    Default Re: Life Estate Deed

    Quote Quoting nmoney
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    My question involves real estate located in the State of: Florida
    Property was purchased for a large sum. Grantor filed a quit claim deed but included language in the deed equal to that of a life estate deed that would give ownership back to the grantor upon the death of the grantee. This was unknown to the buyer and done without the buyers consent. The grantor also failed to report the amount of money recieved for the property. What can be done to fix this?
    If the situation is even remotely as complicated as it seems you need a consult with a local real estate attorney. However, when you get that consult do not describe the parties in the way that you did here. Just tell the attorney the whole story.

    I will say however, that any buyer who did not fully read and comprehend the paperwork before turning over any money has no one to blame but themselves.

  3. #3
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    Default Re: Life Estate Deed

    Yes, it would appear to certainly need an attorney now as it lacked one when the property closed (no lawyer would have permitted such a conveyance). Further the post here is muddled as well. Why do you think the seller has any obligation to "report" anything.

  4. #4
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    Default Re: Life Estate Deed

    You're the buyer in this scenario, right?


    Quote Quoting nmoney
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    Grantor filed a quit claim deed but included language in the deed equal to that of a life estate deed that would give ownership back to the grantor upon the death of the grantee.
    Care to quote that language for us (with names removed or changed)?


    Quote Quoting nmoney
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    This was unknown to the buyer and done without the buyers consent.
    Unknown to the buyer? Ok. How about to the buyer's attorney or the escrow company who handled the closing? Did the buyer obtain a policy of title insurance? If so, is the manner by which title was conveyed consistent with the policy and the preliminary title report? For that matter, is the manner by which title was conveyed consistent with the contract between the buyer and seller?


    Quote Quoting nmoney
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    The grantor also failed to report the amount of money recieved for the property.
    Failed to report it to whom?


    Quote Quoting nmoney
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    What can be done to fix this?
    Depends on how you answer the questions I asked.

  5. #5
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    Default Re: Life Estate Deed

    It was a deal between a brother and sister. The sister owned the house, the brother bought the house from her. He is an elderly man and is disabled. He trusted her so there was not any contract or paperwork. It was a verbal agreement between them and she typed out a quit claim deed, had it witnessed and notarized, then filed with the county clerk. The deed did not require his signature. Only hers. After filing, she handed him a false deed so he handed her the cash. A year later, it was discovered by a different sister of his that he did not have the copy of the deed that had been filed. The true deed was obtained through the county clerk.

    No, I am not the buyer. The buyer is an elderly man and the seller was his sister. I am a close family friend trying to help this man.

    It was written as a typical quit claim deed would be written. However, it included a paragraph that stated, "The Grantor hereby quitclaims and transfers all rights, title, and interest held by the Grantor in the following described real estate and improvements located at ................ to the Grantee to have and to hold until such time as said Grantee no longer resides on the property or becomes deceased. Should this occur, all rights, title, and interest shall be reverted to the Grantor.

    Quote Quoting flyingron
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    Yes, it would appear to certainly need an attorney now as it lacked one when the property closed (no lawyer would have permitted such a conveyance). Further the post here is muddled as well. Why do you think the seller has any obligation to "report" anything.
    Because it's showing that he she gifted him the property to hold onto until he dies instead of him buying the property from her.

  6. #6
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    Default Re: Life Estate Deed

    Quote Quoting nmoney
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    It was a deal between a brother and sister. The sister owned the house, the brother bought the house from her. He is an elderly man and is disabled. He trusted her so there was not any contract or paperwork. It was a verbal agreement between them and she typed out a quit claim deed, had it witnessed and notarized, then filed with the county clerk. The deed did not require his signature. Only hers. After filing, she handed him a false deed so he handed her the cash. A year later, it was discovered by a different sister of his that he did not have the copy of the deed that had been filed. The true deed was obtained through the county clerk.

    No, I am not the buyer. The buyer is an elderly man and the seller was his sister. I am a close family friend trying to help this man.

    It was written as a typical quit claim deed would be written. However, it included a paragraph that stated, "The Grantor hereby quitclaims and transfers all rights, title, and interest held by the Grantor in the following described real estate and improvements located at ................ to the Grantee to have and to hold until such time as said Grantee no longer resides on the property or becomes deceased. Should this occur, all rights, title, and interest shall be reverted to the Grantor.



    Because it's showing that he she gifted him the property to hold onto until he dies instead of him buying the property from her.
    That seriously smacks of elder abuse. His city or county would have elder protection agency of some sort. You might want to contact them for assistance.

  7. #7
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    Default Re: Life Estate Deed

    Quote Quoting nmoney
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    It was a deal between a brother and sister. The sister owned the house, the brother bought the house from her. He is an elderly man and is disabled. He trusted her so there was not any contract or paperwork. It was a verbal agreement between them and she typed out a quit claim deed, had it witnessed and notarized, then filed with the county clerk. The deed did not require his signature. Only hers. After filing, she handed him a false deed so he handed her the cash. A year later, it was discovered by a different sister of his that he did not have the copy of the deed that had been filed. The true deed was obtained through the county clerk.

    No, I am not the buyer. The buyer is an elderly man and the seller was his sister. I am a close family friend trying to help this man.

    It was written as a typical quit claim deed would be written. However, it included a paragraph that stated, "The Grantor hereby quitclaims and transfers all rights, title, and interest held by the Grantor in the following described real estate and improvements located at ................ to the Grantee to have and to hold until such time as said Grantee no longer resides on the property or becomes deceased. Should this occur, all rights, title, and interest shall be reverted to the Grantor.



    Because it's showing that he she gifted him the property to hold onto until he dies instead of him buying the property from her.
    You've got a mess. The moment there was a quite claim, the person signing that gave up all rights without recourse. There's no requirement for anything to be reported.

  8. #8
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    Default Re: Life Estate Deed

    Quote Quoting flyingron
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    You've got a mess.
    That's for damn sure.

    Trusting one's sibling is one thing, but this smacks of willful ignorance.

    Getting back to the original post, would we be correct to assume that the buyer asked his sister to reform the deed and she refused? If so, then his recourse is to consult with a local attorney about suing to have the deed reformed.

  9. #9
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    Default Re: Life Estate Deed

    Quote Quoting pg1067
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    That's for damn sure.

    Trusting one's sibling is one thing, but this smacks of willful ignorance.

    Getting back to the original post, would we be correct to assume that the buyer asked his sister to reform the deed and she refused? If so, then his recourse is to consult with a local attorney about suing to have the deed reformed.
    Willful ignorance? She gave him a copy of a deed that was different than the deed that she filed at the courthouse. That isn't willing ignorance on the part of the brother, that was a flat out scam on the part of the sister. That is elder financial abuse. That is an actual crime.

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