Remainderman "disappeared"

[PrairieDog]

Jurisdiction

Texas

Life Estate "lapsed"?

Given to me by my aunt's will, I have a life estate (royalties) in Texas that is designated to go to a Remainderman after i die,
religious college. At the time the will was made, the college was located in Houston. Two of my deceased aunts gave life estates to their nephews and nieces with the Houston bible college designated as the Remainderman.

The Remainderman college no longer exists but is somehow "claimed" by another religious college, located in Oklahoma.

For various reasons i believe that my aunts would not have wanted their life estate legacies to go to any another college but the one they designated in Houston. (One of the aunts funded the construction of a building on the campus and it bore her name.)

Is there a possibility that the terms of the life estate have been "violated" and null because the Houston college no longer exists?

 

[adjusterjack]

Is there a possibility that the terms of the life estate have been "violated" and null because the Houston college no longer exists?

Depends on the explicit terms of the will. If the will addressed the possibility that the college would fold and specified that the property would not go to any successors that would be one thing.

In the absence of such specificity, it's possible that the successor would have claim to the property.

Have this reviewed by an attorney for an expert opinion before you do something that can get you embroiled in an expensive lawsuit.

The lesson here: If you want something done or not done with your estate lay it out in your will and don't leave it to chance. What somebody "thinks" you wanted or didn't want isn't going to mean anything.

 

[army judge]

Life Estate "lapsed"?

Given to me by my aunt's will, I have a life estate (royalties) in Texas that is designated to go to a Remainderman after i die,
religious college. At the time the will was made, the college was located in Houston. Two of my deceased aunts gave life estates to their nephews and nieces with the Houston bible college designated as the Remainderman.

The Remainderman college no longer exists but is somehow "claimed" by another religious college, located in Oklahoma.

For various reasons i believe that my aunts would not have wanted their life estate legacies to go to any another college but the one they designated in Houston. (One of the aunts funded the construction of a building on the campus and it bore her name.)

Is there a possibility that the terms of the life estate have been "violated" and null because the Houston college no longer exists?

You hold a life estate.
Enjoy your life estate until you die.
If no remainderman is around upon your death, the state will receive the property.

How?

Escheat.....

The last FIVE letters tell it all, mate.

PROPERTY CODE CHAPTER 71. ESCHEAT OF PROPERTY

However, the college that somehow acquired the remains of the "deceased remainderman" just might be considered an heir or assign.

At any rate, as long as you're alive, no one will be cheated, or escheated.

Live long and prosper, life estate holderman. LOL

 

[adjusterjack]

Escheat.....

The last FIVE letters tell it all, mate.

I've always wondered about that.