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What happens if the grantor signs a warranty deed with reservation of life estate and power to sell and the grantee dies before the grantor?
The grantee in a life estate is the life estate owner. If they die the life estate is extinguished and the property is free of the life estate.
However, if you have your terms reversed please review the following. The grantor is the person who owns the property. The owner can grant a life estate and that person is the grantee. If the grantor dies the decedent's heirs would inherit the fee to the property either by will or under the state laws of intestacy. However, the life estate owner retains their life estate and the heirs acquire title subject to the life estate. The life estate owner would still have the right to the use and possession of the property for the duration of their natural life. They would also be subject to any statutory law regarding the obligations of a life estate owner in maintaining the property, paying taxes, maintaining insurance, etc..
What else can I help you with?
What happens to a warranty deed if the grantee has failed to execute which is otherwise properly drafted and delivered?
The grantor executes the deed. Once it has been properly executed and delivered the grantor no longer owns the property. If the grantee doesn't record the deed in the land records they are creating a title defect that will be costly to clear up if the deed should become lost. Grantees who don't record their deeds are foolish in not taking advantage of a system that would defend their title to land against the world. An unrecorded deed robs your rights and the rights of your heirs to the absolute ownership of the land. On the other hand, if you mean what happens to a properly executed deed if the grantor hasn't signed it- it is worthless if not fully executed by the grantor.
What happens if a Quit Claim Deed is executed and before it is recorded an Attorney Lien is recorded on the property even though the person owing the debt is the one who executed the quit claim deed?
The lien is valid. A quit claim deed merely transfers the seller's interest in the property; it doesn't guarantee that the deed is free of any encumbrances - for that, one needs a warranty deed.
If a quick deed is sign on a house while someone is alive but then passes away what happens?
Should be valid. Get title changed before it gets into probate.AnswerThe law varies from state to state. You need to consult with an attorney to see if the conveyance is effective in your jurisdiction. Some states require proof that the deed was delivered from the grantor to the grantee.
Can a married couple quit clam property to one another being both the grantee and grantor?
No, a married couple cannot quitclaim property to one another, as they both have an existing legal interest in the property as spouses. However, they can transfer their interest in the property to a third party through a quitclaim deed. Alternatively, they may consider other types of property transfers, such as a warranty deed or a marital property agreement. Consulting with a lawyer is advisable for guidance in specific cases.
What happens if an executor does not have a power of attorney document?
A power of attorney expires on the death of the grantor. The executor needs a letter of authority.
How long does it take after a deed is recorded for it to be valid?
A deed is valid against the world the moment it is recorded as long as the grantor owns the land. See related question.A deed is valid against the world the moment it is recorded as long as the grantor owns the land. See related question.A deed is valid against the world the moment it is recorded as long as the grantor owns the land. See related question.A deed is valid against the world the moment it is recorded as long as the grantor owns the land. See related question.
How do you you change the names on the deed of your house?
Changing names on deeds typically happens for one of several reasons including legal name changes, death, convenience or conveyance. If there is a mortgage, you will need permission from the lender. Any new deed with changed names changes ownership. The people currently named on the deed (grantor) will execute a new deed to the newly named people (grantee). The grantee(s) on the new deed are the new owners. Deeds should always be drafted by a professional. Errors made by non-professionals can be costly to correct it they can be corrected. As soon as a new deed is executed it should be recorded in the land records.
What services are offered at Warranty Direct?
They can provide car, van, motorbike and home warranties. If your possesions are under warranty and something happens to damage your property or it is stolen then as it is under warranty then it can be replaced. Your warranty premiums will go up though.
What happens to your warranty when a company goes bankrupt?
If the Bankrupt company is just the retailer then the warranty is still covered by the manufacturer. If the manufacturer goes bankrupt then the retailer covers the warranty. The seller is responsible for a warranty. Clearly if the seller is the manufacturer and they go bankrupt then it's most unlikely that the warranty will remain in force.
What is warranty?
A warranty protects the customer from having a defective product. Some warranties cover damage that happens by the owner as well usually those cost extra.
What happens if you break your ipod touch?
You just broke it. There isn't much that happens, but if you aren't under the warranty, you won't get a repair for free.
Who is likely to purchase a car warranty?
New cars are sold with a warranty, so any buyer can take advantage of it in case something happens that is covered under the warranty within a given time frame. Some also purchase an extended warranty to lengthen the period of coverage.
