Will do! Thanks Mike!

Shelley A. Dugan

Shelley A. Dugan
Easement Specialist
USDA NRCS Easement Programs Team
210 Walnut Street, Room 693
Des Moines, Iowa 50309-2180
Phone: Desk Direct (515) 323-2610 Team Main (515) 284-4222
Fax (515) 284-4647

From: realestate-owner@iabar.org [mailto:realestate-owner@iabar.org] On Behalf Of Mike Gabor
Sent: Wednesday, July 01, 2009 10:32 AM
To: realestate@iabar.org
Subject: RE: [ISBA RealEstate] life estate question

You have a case of the fertile octogenarian. Give me a call and I'll try to help you.

Mike

From: realestate-owner@iabar.org [mailto:realestate-owner@iabar.org] On Behalf Of Dugan, Shelley - Des Moines, IA
Sent: Wednesday, July 01, 2009 10:32 AM
To: realestate@iabar.org
Subject: [ISBA RealEstate] life estate question

Listmates: I need some direction on this one, as it’s a first for me. I am purchasing a perpetual conservation easement (purchasing most of the rights to the land, though not fee title) from someone who only holds a life estate. The Report of Change of Title states that title has been “changed and established in Jane Doe, during her lifetime with the remainder in equal shares to the heirs of her body.” This was in 1963 so chances are good that any and all “heirs of her body” are determinable but I don’t know her age.

I’m giving Jane an Option Agreement to Purchase the easement for a specified dollar amount and want to be sure that I have an enforceable document signed by all of the landowners before I go forward ordering a survey and updating abstracts. I’m assuming that “heirs of her body” just means children and does not include grandchildren, etc. but would appreciate any input on this. Should I get an affidavit from her listing the “heirs of her body” and have these heirs and their spouses sign the option and then the easement? Hopefully I won’t run into any minor heirs. I’d appreciate the gift of your experience and guidance. Thanks in advance!

Shelley A. Dugan