Mom has dementia. She knows me and my brother and her visitors. She can sit and talk with her oldest friend all about growing up. But, he short term memory is extremely bad.
Her house was put in my brother and I's name many years ago with her having a life tenancy (Life Estate). She is in a nursing home and it's medically necessary. I can't afford the taxes and operational costs of the house in the city. She won't be coming home. I explained that to her and she said it's sad to sell, but if you have to, do what you think is right. When I see her a few days later, I mention I've been doing a lot of work cleaning up the house so we can sell it. She doesn't say no, but she says I'd like to go for a ride and at least drive by and see it one last time, but you can do what you have to.
How do we go about selling the house with her having a life estate? Is she capable of signing it off? My only brother (no sisters) and I are the other names on the house. We are both totally disabled through SSDI and have been for 10+ years. How do we sell it? I know once it is sold, her share can be equally transferred to my brother and I without penalty because we are disabled. She always said she wanted us to have everything to be sure we were OK. The house is worth between $300,000 and $380,000. I just don't know how to go about selling it with her life estate even though she tells me it's ok. I am in Massachusetts.