do you have to own your home to do a life estate deed
If a living person has a life estate for a house can they sell the house? A man now only holds a life estate for the house he lives in and signed the deed over to his 2 daughters. Can he sell the house and avoid the capital gain fees because he has lived there for 2+ years out of the past 5 years. Or do his daughters have to sell the house and property and pay the capital gain?