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Option 2) Life Estate with Disposition Power – The mother can add the two children as remaindermen. When the mother is alive, she has exclusive rights to the property including but not limited to divesting remaindermen’s current and future ownership. After the Mother’s death, the two children own the property, either as joint tenants or tenants in common, depending on how the mother adds these two children to her deed. This is a wiser option to benefit the mother.
Option 3) To be continued…
Contact me should you have further questions.
Jonathan Kan, Licensed Title Producer/Notary Public
Aestar Settlements LLC
15881-B Crabbs Branch Way, Rockville, MD 20855
C: 240-351-6098 F: 888-501-3060 E: [email protected]
This column is not legal advice and should not be acted upon without obtaining your own legal counsel.
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