By Fredrick P. Niemann, Esq. a Freehold Township, Monmouth County NJ Elder Law Attorney
A client has a life estate in his home with the remainder interest (a remainder interest is an “ownership interest”) having been given to family members, specifically his children. I was asked to determine if a legal judgment would attach to his real estate during his life time or after his demise.
The answer is: A life estate does not give a creditor of a person who has a life estate a right to execute their judgment against his life estate and certainly no right to execute against the remainder interest of his real estate. The reason is that the holder of the life estate’s interest dies upon his death.
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