Can someone explain a live interest on a deed?

I assume you were granted a remainder interest in the house and your mom kept a life estate. At least that is how this would usually be done. If you sell the house, the proceeds must be divided based on a "Life Estate/Remainder" table published by the government. This table takes into account your mom's age: the older she is at the time you sell the house, the lower the percentage to which she is entitled.

You need to provide more information (actually you need to see a lawyer).

Who was the house deeded to and who has the 'life estate' and have either of those parties died?

I can tell you that in my family I had a relative who, in his will, left his house to his children, but left a life estate in the house to his friend. In other words, the friend had no ownership of the house, but he had the complete use of it for his life (along with responsibility for the upkeep of it).

Could you double check the wording of what you are asking about? Are you referring to someone having a life estate interest in the property? What are the family resources that you are talking about?

I think it depends where you are. If the house was deeded to you with a life interest for your mother that would mean she would be entitled to a large portion of the sale proceeds if she was alive at the time, i.e. the sale price less what you have contributed over the years. I'm in Canada and you'd likely be best to speak to a lawyer where you live as laws vary tremendously.