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...
life-estate 释义 life estatenoun[ C ] LAW, PROPERTYukusthe legal right to own and control a property, such as a building or piece of land, for the length of time that you are alive: The life estate deed allows the older couple to own the house for the rest of their lives.Compare ...
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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The duration of the estate pur autre vie ("for the life of another"€) depends on the life of a person other than the life tenant. The estate pur autre vie can be passed to heirs while the designated person is still alive. Often, this type of estate is created so that mentally ...
Twitter Google Share on Facebook Life in Being A phrase used in the common-law and statutory rules against perpetuities, meaning the remaining duration of the life of a person who is in existence at the time when the deed orwill takes effect. ...
Does a spouse need to sign on a personal guarantee? Under Nevada Real Estate law, conveyance of Deed/Title when is it finalized? When it is accepted and delivered to the grantee or recorded? A(n) {Blank} is an individual who has the oral authority of...
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If the property is sold during the lifetime of the parent, how the sales proceeds are treated depends on how the deed is worded. Typically, the owner of the life estate would receive the value of the life estate interest (in which case the parent’s portion of the proceeds will become ...