Life Estate
Hello all;
I am currently in the process of selling my home however there seems to be an issue of the profits that I will be getting from it.
In 1999 I purchased the home from my mother and stepfather. They wished to travel the world and asked if I would let them live in an apartment above the garage. I did, but asked if they would pay the utility bills for it and they agreed. In 2002 I also asked if they would help out with the property taxes for the apartment and they agreed.
I am currently selling the house and they have sought legal aid in getting the value of the apartment paid to them when I close on the house ($31000). The attorney says that they have grounds based off of a "life estate". We do not have anything in writing or signed by me as to this and I was wondering what courses of action I have to alleviate an nasty family feud and keep the money that I feel belong to me?
Thanks in advance.
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