Creating a life estate is easy. The owner of the property can execute a deed that retains a life estate interest but gives the remainder interest to whomever the owner chooses. Why life estates can be usefulThe fact that life estates don't have to go through probate at death is an estate...
In certain situationas, an enhanced life estate deed, or Lady Bird Deed, offers some benefits over a traditional estate plan.
How does a personal guarantee work? What is real estate? Who signs a personal guarantee? What is the difference between personal guarantee and corporate guarantee? What is the difference between a trust and a life estate? What is a special warranty deed?
What is a leasehold? What is a guarantor mortgage? What is the difference between an appurtenant easement and an affirmative easement? What is the difference between HOA bylaws and covenants? What is the difference between a trust and a life estate? What is a trust deed? What is an example...
A beneficiary deed is commonly associated with real estate and property because it is a document used to determine who will receive real estate property when the original owner dies. Those who receive the property as the result of the beneficiary deed are referred to as beneficiaries. This docume...
Parties Involved In A Deed Of Trust The trustor: the person or entity whose assets are being put into the trust. In the case of a real estate transaction, this is the borrower. While the legal title defines the actual ownership of the property and is held in the trust, as long as the...
A vendor's lien is a lien in favor of the "vendor" or the seller of real estate. When a warranty deed contains a vendor's lien, the buyer agrees to allow the seller to seize the property until the property is paid for in full. It's used in situations where the buyer is taking ...
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The life estate deed within a life estate is a document that grants the owner the ability to pass on ownership of a property without including it in a will as part of their estate assets. The property doesn't have to go throughprobate, the court process that's used to distribute bequest...
There are several types of grant deeds, depending on who transfers property to whom. For example, an interspousal transfer grant deed is used to transfer real estate from one spouse to another (often during a divorce). Content All deeds must contain the names of the grantor and the grantee...