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If a person that reserves a life estate in property but does not occupy the property becomes incapacitated and has a power of attorney does the appointed person have control over the property?
Wiki User
∙ 9y ago
The power of attorney will have control of the property as long as the individual remains living. The life estate and the power of attorney expire on the death of the grantor.
Wiki User
∙ 9y ago
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When a parent conveys their property to a child but reserves the right to live in the house for the remainder of their life what is that right called?
The parent has retained a life estate in the property.
Is personal property covered in a life estate deed?
What you mean by "covered" is not clear. Therefore the following is general information only. You need to check the laws in your state and consult with an attorney, if necessary.Generally, an owner who transfers their real property by deed and reserves a life estate has reserved the use and possession of the real property for life and has named a remainder person who will own the property absolutely upon their death. Their personal property remains on and in the promises and they retain ownership of that personal property. Should they decide to release their life interest, they can remove all their personal property to a new home. If they die while owning the life estate, the title to the real property vests in the remainder person absolutely and the personal property on and in the premises becomes part of the decedent's estate.What you mean by "covered" is not clear. Therefore the following is general information only. You need to check the laws in your state and consult with an attorney, if necessary.Generally, an owner who transfers their real property by deed and reserves a life estate has reserved the use and possession of the real property for life and has named a remainder person who will own the property absolutely upon their death. Their personal property remains on and in the promises and they retain ownership of that personal property. Should they decide to release their life interest, they can remove all their personal property to a new home. If they die while owning the life estate, the title to the real property vests in the remainder person absolutely and the personal property on and in the premises becomes part of the decedent's estate.What you mean by "covered" is not clear. Therefore the following is general information only. You need to check the laws in your state and consult with an attorney, if necessary.Generally, an owner who transfers their real property by deed and reserves a life estate has reserved the use and possession of the real property for life and has named a remainder person who will own the property absolutely upon their death. Their personal property remains on and in the promises and they retain ownership of that personal property. Should they decide to release their life interest, they can remove all their personal property to a new home. If they die while owning the life estate, the title to the real property vests in the remainder person absolutely and the personal property on and in the premises becomes part of the decedent's estate.What you mean by "covered" is not clear. Therefore the following is general information only. You need to check the laws in your state and consult with an attorney, if necessary.Generally, an owner who transfers their real property by deed and reserves a life estate has reserved the use and possession of the real property for life and has named a remainder person who will own the property absolutely upon their death. Their personal property remains on and in the promises and they retain ownership of that personal property. Should they decide to release their life interest, they can remove all their personal property to a new home. If they die while owning the life estate, the title to the real property vests in the remainder person absolutely and the personal property on and in the premises becomes part of the decedent's estate.
Does a warranty deed with vendors lien need to be signed?
It is a deed which conveys real property to a buyer with a warranty of title and a warranty of no encumbrances, but reserves a lien in favor of the seller (vendor); the lien exists until the full purchase price is paid off, so the seller (vendor) has the right to take the property back (foreclose) is he/she/it is not paid in full. See a real estate attorney for further information.
What are the estimated reserves?
Not sure if this is a math/ statistics question. Reserves are assets you hold, but are not using immediately. There are oil reserves, mineral reserves (like gold reserves) and cash reserves. I think you need to rephrase the question for a proper answer.
How are proved reserves and potential reserves used to estimate the remaining amount of fossil fuels?
Proven reserves are reserves we know about, potential reserves are those we suspect are present in certain geological formations. The combination of the two along with the estimated size of these reserves gives us the estimated total reserves.
What are proven reserves?
What are proven-in-place reserves
Is there more known coal reserves in Illinois than oil reserves?
more oil reserves
Whether revaluation reserves can be transferred to general reserves?
No
How many reserves in a football team?
21 reserves
Can a bank repo for not paying late charges?
If you are still making payments to the bank, then legally it is the property of that bank. If you fail to make the payments, the bank reserves the right to take back their property. Property can usually be returned to the purchaser if the the purchaser can make the payment in full, within a certain amount of time set by the bank.
When was Necaxa Reserves created?
Necaxa Reserves was created in 2010.
How many federal reserves district are there?
There are 12 federal reserves
