Life Estate Property Sale

Summary

In New York, life estate holders can sell their interest in a property. However, the buyer will not gain full ownership until the life tenant passes away. If there was no specific agreement in the contract regarding the transfer of the deed, the standard rule applies. For more detailed information, you may contact the New York State Supreme Court.

Full Conversation

I just have a question, i have life estate on my home, i sold it privately with a monthly payment, i just moved out, does the buyer pay the balance before i come off the deed
What was the agreement in the contract regarding the transfer of the deed?
There was none i just have life estate
What state is the property located in? In New York, life estate holders can sell their interest, but the buyer doesn't get full ownership until the life tenant's death.
New york
In New York:

- Life estate holders can sell their interest.
- The buyer doesn't get full ownership until the life tenant's death.

For more details, contact New York State Supreme Court: (*) *-*.