This warranty deed is from parent(s) to child with a reservation of a life estate in the parent(s). The form allows the grantor(s) to convey property to the grantee, while maintaining an interest in the property during the lifetime of the grantor(s).
Life Estate Deed Alaska With Powers
Category:
State:
Alaska
Control #:
AK-021-77
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Word;
PDF;
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How to fill out Alaska Warranty Deed To Child Reserving A Life Estate In The Parents?
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FAQ
Real property can be transferred without a probate if it is held in one of the following ways:By both spouses as tenants by the entirety;By both spouses as Alaska Community Property with a right of survivorship; or.By a Trustee in trust; or.More items...
If one person owns a parcel of property in fee simple, she has the most complete form of ownership allowed by law. She may do with the property practically anything she chooses. The estate lasts perpetually and may be transferred from heir to heir.
Alaska Transfer on Death Deed Information. Real property owners in Alaska have an estate planning option: the transfer on death deed (TODD). Find the full text in AS 13.48. This statute is based on the Uniform Real Property Transfer on Death Act (URPTODA).
Life estate consThe life tenant cannot change the remainder beneficiary without their consent.If the life tenant applies for any loans, they cannot use the life estate property as collateral.There's no creditor protection for the remainderman.You can't minimize estate tax.More items...
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The deed also creates a "remainder interest" for the remaindermen who will receive full ownership immediately at the life tenant's death. Alaska Statutes.As part of the Medicaid planning, she executed a deed transferring her house to her children. Receive free daily summaries of new opinions from the Alaska Supreme Court.