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Get your taxes done using TurboTax
@KochuK wrote:I cannot comment if Life Estate receives a step-up basis when one of the owner passes.
Indeed it does receive a stepped-up basis. At the death of the life tenant, the life estate is terminated and those with a remainder interest take the property in fee (unless there is an unusual restriction in the deed or elsewhere).
‎June 8, 2022
3:57 PM
767 Views