My house is going in foreclosure, but there is a life estate living in the home. My question- if the bank will own the home what happens to the life estate person, and can someone buy the home with a life estate to the property

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Originally Posted by minks13

My house is going in forclosure, but there is a life estate living in the home. My question- if the bank will own the home what happens to the life estate person, and can someone buy the home with a life estate to the property

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The life tenant probably signed off on the mortgage (or the mortgage was created subsequent to the mortgage), in which case, upon foreclosure, the life tenant can be evicted.

After foreclosure the life estate will no longer exist. Depending on the terms of the estate what was the duties of the owner to protect the estate, they may have some legal grounds againt the owner, but that would be detailed in the estate.