Life Estate Setup
Yes I will contact an attorney, but just for conversation .....
I have a man in foreclosure who is terminal. I proposed to him that I bring the foreclosing loan current, he deeds me the property, I refinance the property, and then we sign a life estate so that he can live at the property indefinately for an rate adjusted rent amount.
Anyone see a problem with this? I have never done a life estate.
Thanks
Brenda
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