Life estate, the property has been sold but you the real estate seller stay on board. Still retain use of the real estate after the listing sale. But upon death or signing off your right for possession of the property, the place space that was retained, it's useage goes to the record owner. We run into life estates in cases where the real estate owner is elderly. The Nana, Grampy who wants to sell....
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by Mooers Realty
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