My question involves real estate located in the State of: South Carolina
In 2012 my father in law bought a poorly maintained as is home (buy before you see the insides) with the intentions of giving it to us when we married. He died before he could will the house to his son. His wife was willed everything and asured us she would still sign the deed over to her son when we married. Before we wed we decided our best bet was to take out a loan/mortgage to repair the house. After we were married she gave her son the deed but there was a catch. Beside his name it says LE life estate and she is the remainderman. She wants us to pay out of pocket for all the repairs. The house is not liveable even though we are living in because that's the only way we can aford to repair the home. We have had to tear pretty much every thing out the house because major water damage. With the rate we are going it will and the amount left it will take 10-15 years to repair. We want children but I'm not bringing a child in to this world to live in this house the way it is. What rights to we have if any? Would it be best for us to just buy another home?
In 2012 my father in law bought a poorly maintained as is home (buy before you see the insides) with the intentions of giving it to us when we married. He died before he could will the house to his son. His wife was willed everything and asured us she would still sign the deed over to her son when we married. Before we wed we decided our best bet was to take out a loan/mortgage to repair the house. After we were married she gave her son the deed but there was a catch. Beside his name it says LE life estate and she is the remainderman. She wants us to pay out of pocket for all the repairs. The house is not liveable even though we are living in because that's the only way we can aford to repair the home. We have had to tear pretty much every thing out the house because major water damage. With the rate we are going it will and the amount left it will take 10-15 years to repair. We want children but I'm not bringing a child in to this world to live in this house the way it is. What rights to we have if any? Would it be best for us to just buy another home?
Ownership Rights: Life Estate
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