n. the right to use or occupy real property for one's life. Often this is given to a person (such as a family member) by deed or as a gift under a will with the idea that a younger person would then take the property upon the death of the one who receives the life estate. Tit...
In effect, the meaning of this arrangement is that a life estate holder cannot pass on ownership of the property to another individual or designate an heir through a will. Life estates are established by a deed. A deed relates to a legal document that delineates the possession rights of ...
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Virginia life estate laws are designed to help avoid future problems with estate distribution. A life estate deed gives the grantor the right to transfer the deed to his or her home to another party while continuing to live in the home. Understanding Vir
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Creating a Life Estate Deed Under North Carolina Law A person who is devising real property to a beneficiary but who wants to remain on the property during their lifetime may draft a life estate deed. In North Carolina, as in other states, this type of deed awards the grantor, the perso...
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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...