The typical format of a life estate deed is a declaration followed by a witness statement, the location address, and the particulars of the deed, as noted by Free-Real-Estate-Forms.com. A life estate deed is similar to a last will and testament but applies solely to real estate.Continue Reading
The opening preamble of a life estate deed establishes the date of the deed's creation, the grantor bequeathing the property upon their death, and the grantee who receives the property, according to Free-Real-Estate-Forms.com. The addresses of both the grantor and grantee are listed after their names. The document then declares that the grantee inherits the property upon the grantor's death. After this declaration, the address of the property to be inherited is listed along with a legal description of the property.
The example on Free-Real-Estate-Forms.com continues with a statement that the grantor reserves all ownership rights, rent and other revenues from that property as long as they are still alive and that all of these rights and revenues pass to the grantee once that life ends. The life estate deed ends with an execution date, the signatures of the grantor and grantee, and a space for a notary to seal and sign the document.Learn more about Law