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) ) ) ) ) ) ) Above This Line Reserved For Official Use Only In common law and statutory law, a Life Estate is the ownership of land and property for the duration of a person\'s life. In legal terms
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A life estate deed is a legal document that allows an individual to transfer property to another person while retaining the right to live on and use the property for the rest of their life.
The original property owner, known as the grantor, must file the life estate deed to legally transfer ownership while retaining a life interest.
To fill out a life estate deed, include the names of the grantor and grantee, a description of the property, the rights retained by the grantor, and the effective date of the transfer, and then sign the document in front of a notary.
The purpose of a life estate deed is to allow individuals to transfer property to another party while still retaining the right to live on the property until their death, often for estate planning purposes.
The deed must report the names of the grantor and grantee, a legal description of the property, the grantor's retained rights, and any relevant information such as the date of the transfer.
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