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Is the person being granted a gift deed of house and property for their lifetime only required to make major repairs to the house if there were no provisions for this included in the gift of deed?
Wiki User
∙ 11y ago
A gift deed is a deed in which the consideration is not monetary but is made in return for love and affection. It is a document which transfers ownership of property to another as a gift. What you described is a life estate. A life estate is the right to the use and possession of a property for the duration of the life tenant's natural life. A life estate does not confer ownership only an exclusive right to use.
If there were no conditions set forth in the grant of life estate then you need to check your state laws to determine the responsibilities and obligations of the life tenant.
A gift deed is a deed in which the consideration is not monetary but is made in return for love and affection. It is a document which transfers ownership of property to another as a gift. What you described is a life estate. A life estate is the right to the use and possession of a property for the duration of the life tenant's natural life. A life estate does not confer ownership only an exclusive right to use.
If there were no conditions set forth in the grant of life estate then you need to check your state laws to determine the responsibilities and obligations of the life tenant.
A gift deed is a deed in which the consideration is not monetary but is made in return for love and affection. It is a document which transfers ownership of property to another as a gift. What you described is a life estate. A life estate is the right to the use and possession of a property for the duration of the life tenant's natural life. A life estate does not confer ownership only an exclusive right to use.
If there were no conditions set forth in the grant of life estate then you need to check your state laws to determine the responsibilities and obligations of the life tenant.
A gift deed is a deed in which the consideration is not monetary but is made in return for love and affection. It is a document which transfers ownership of property to another as a gift. What you described is a life estate. A life estate is the right to the use and possession of a property for the duration of the life tenant's natural life. A life estate does not confer ownership only an exclusive right to use.
If there were no conditions set forth in the grant of life estate then you need to check your state laws to determine the responsibilities and obligations of the life tenant.
Wiki User
∙ 11y ago
Wiki User
∙ 11y agoA gift deed is a deed in which the consideration is not monetary but is made in return for love and affection. It is a document which transfers ownership of property to another as a gift. What you described is a life estate. A life estate is the right to the use and possession of a property for the duration of the life tenant's natural life. A life estate does not confer ownership only an exclusive right to use.
If there were no conditions set forth in the grant of life estate then you need to check your state laws to determine the responsibilities and obligations of the life tenant.
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