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If someone signs a deed reserving a life estate and then signs a warranty deed to someone else at a later date which deed is binding?
Wiki User
∙ 7y ago
The first deed is binding.
If Rodney executed a deed to William and David, reserving a life estate to himself, then William and David are the new owners of the property and Rodney has the use of the property during his life.
Rodney cannot execute a subsequent deed since he no longer owns the property. The first deed controls as long as it was recorded in the land records.
Wiki User
∙ 7y ago
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Can a life estate deed name two grantees?
Yes, & upon the death of the person reserving a life estate, the property will be owned by both of the 2 Grantees
What is a real estate war deed?
A war deed is a warranty deed. http://en.wikipedia.org/wiki/Warranty_deed has nothing to do with military war.
What is a warranty deed of gift with lifetime estate?
That means the owner has transferred the ownership of the property to someone else but reserved the right to use and possess it for the duration of their natural life.
How does a life estate deed supersede a will?
If a person was granted a life estate in property and then the owner dies, the property remains subject to the life estate. Even if the decedent leaves the property to a different beneficiary in the will, the property passes subject to the life estate.
Is a verbal agreement pertaining to real estate binding until closing date?
No
Can a verbal agreement create a binding life estate?
A life estate must be granted in writing or by a court order by a court of equity.
Can you have a fee simple deed and a life estate clause on the same deed with 8 different heirs?
Yes. You could have a deed drafted that conveys your property to eight children while reserving a life estate for yourself.
What does a Mississippi Warranty Deed to Children Reserving a Life Estate in the Parents involve?
It involves transferring the title to your property to your children. They will be the new owners subject to your right to the use and possession of the property for the duration of your natural lives. There may be tax consequences and the property will be vulnerable to any creditors claims against your children. If the children are minors there may be expensive legal consequences to consider. You should not make any such transfer until you have discussed it with an attorney who specializes in real estate law and also estate planning.
Does a family IOU signed by those involved have an expiry date and is the document considered legal and binding?
A signed IOU can be legally binding. It can be enforced by the estate if needed.
Difference between a special warranty deed and a general warranty deed?
Both general warranty deeds and special warranty deeds can be used for real estate sales where a property is transferred between parties unfamiliar with each other. The difference is the extent of the coverage of the warranty.
Is it worth it to get home warranty insurance?
Home warranty insurance will assist in the repair of your home for a limited time. Depending on the condition of the real estate you purchased, you need to weigh the cost of the warranty to the cost of the repair.
What if you have no will and you want to appoint someone executive of estate?
Write a will! That is the way to appoint someone executor of the estate.
