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How can a person deed their part of some land to their children but have a life estate to the property?
Grantors X, Y and Z hereby grant the described property to X, Y and Z as joint tenants with right of survivorship and not as tenants in common, subject to a life estate for their parents A and B, measured by the joint lifetimes of A and B...
You can then go on about the obligations to pay taxes and other assessments, maintain the property against the elements and against trespass, and so forth, or just go with whatever default provisions your jurisdiction has come up with for the obligations of life tenants, if any.
What else can I help you with?
A shared interest in your property?
One way to establish a shared interest in your property is through a life estate. Some people transfer their property by deed to their children so that when they pass on, the children will have ownership. When this deed is filed, the person then has shared ownership interest with the children.
Who owns the title of the property?
Ownership of real estate is evidenced and accomplished by a deed. The person who transfers the property is called the grantor and the person who receives it is the grantee. In any deed, the grantee is the new owner. The owner of real estate is said to hold title to it.
Can a person you sign the deed in a life estate sell the property while you are sill living on the in the house?
If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.If you conveyed your property by deed and reserved a life estate, the property cannot be sold without your written consent, releasing your life estate. If you do not sign the deed, the new owner would take the property subject to your life estate.
Is there a way to dissolve a life estate by using a quitclaim deed?
Yes. The person who owns the life estate can execute a quitclaim deed to the fee owner that releases all of their right, title and interest in the property. A statement can be added to the deed stating that the purpose of the deed is to extinguish the life estate. Once that release deed has been recorded the property will be free of the life estate.
Would a beneficiary Deed to property be legal in the State of Ga?
Generally, in order for title to real estate to pass to the heirs or devisees the estate must be probated. If a person inherited an interest in real estate a quitclaim deed from them would convey their interest in the property IF the estate had been probated. If the estate was not probated then they are not a legal owner of the property and their deed would convey nothing.
Can a relative sign a quit claim deed if no estate has been open?
No. If an person dies owning property their estate must be probated in order for title to pass to the heir(s) legally. Until the estate is probated no one has the authority to convey the property by deed because they don't own the property.No. If an person dies owning property their estate must be probated in order for title to pass to the heir(s) legally. Until the estate is probated no one has the authority to convey the property by deed because they don't own the property.No. If an person dies owning property their estate must be probated in order for title to pass to the heir(s) legally. Until the estate is probated no one has the authority to convey the property by deed because they don't own the property.No. If an person dies owning property their estate must be probated in order for title to pass to the heir(s) legally. Until the estate is probated no one has the authority to convey the property by deed because they don't own the property.
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 takes precedence - a will or life estate deed for real property?
Your question does not contain enough detail. You can add more details on the discussion page. If a person conveyed their real property by deed while living then the property cannot become part of their estate after their death. If they granted a life estate, that person owns the life estate for the duration of their natural life.
If a person with a life estate quit claims the property to someone else are they giving up their life estate?
Yes. A person who signs a quitclaim deed relinquishes all rights they have in that property.
What is the priority between a deed of gift and a devise in a will?
If the owner conveyed the property by a deed while living the property is gone from their estate at the time of their death and cannot pass by their will. The deed would take precedence.If the owner conveyed the property by a deed while living the property is gone from their estate at the time of their death and cannot pass by their will. The deed would take precedence.If the owner conveyed the property by a deed while living the property is gone from their estate at the time of their death and cannot pass by their will. The deed would take precedence.If the owner conveyed the property by a deed while living the property is gone from their estate at the time of their death and cannot pass by their will. The deed would take precedence.
If one person is willed real estate and another person has been named on a warranty deed who gets the property?
If a person conveyed her property by deed while she was alive then she no longer owned it when she died. If the deed is valid the grantee should have recorded it and there should be no question about ownership. You cannot devise property in your will that you no longer own.
When a person dies does your name go on the deed if you inherit the property?
It is not necessary to change the name in the land records. Probate court records are public records and the probated estate passes title to the heirs. However, if you want to transfer the property to the heirs by a deed the attorney who handled the estate can draft the proper deed for you.
