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Possible for life tenant to sell property?

  • 19-07-2011 10:40am
    #1
    dockleaf
    Registered Users, Registered Users 2 Posts: 158 ✭✭


    I wonder if anyone knows if it is ever possible for someone who has inherited a life interest in a house to force a sale of it? This is in circumstances where the life tenant does not want to live in it, the person who inherits after she dies does want to live in it but can only afford to offer a very small sum to buy out the life interest. Can the life tenant refuse the offer and threaten to sell the property, take their value of the life interest and give the rest to the other person?


Comments

  • #2
    Jo King
    Banned (with Prison Access) Posts: 2,139 ✭✭✭Jo King


    There is a procedure under the Settled Land Acts.


  • #3
    coylemj
    Registered Users, Registered Users 2 Posts: 25,624 ✭✭✭✭coylemj


    dockleaf wrote: »
    Can the life tenant refuse the offer and threaten to sell the property, take their value of the life interest and give the rest to the other person?

    Who decides the value of the life interest?


  • #4
    dockleaf
    Registered Users, Registered Users 2 Posts: 158 ✭✭dockleaf


    I suppose the value is decided by an actuary as I understand the table to the CAT act is not considered accurate any more.

    Has anyone seen this happen in practice?


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