This form is a warranty deed 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 In Virginia
State:
Virginia
Control #:
VA-021-77
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Life Estate Deed In Virginia?
Working with legal papers and procedures can be a time-consuming addition to your day. Life Estate Deed In Virginia and forms like it typically require that you search for them and navigate the best way to complete them effectively. Therefore, if you are taking care of economic, legal, or individual matters, using a comprehensive and hassle-free online catalogue of forms on hand will greatly assist.
US Legal Forms is the best online platform of legal templates, boasting more than 85,000 state-specific forms and a variety of tools to assist you complete your papers easily. Check out the catalogue of pertinent papers available with just a single click.
US Legal Forms provides you with state- and county-specific forms offered at any moment for downloading. Safeguard your document management processes with a high quality service that allows you to make any form in minutes without any additional or hidden charges. Just log in to the profile, locate Life Estate Deed In Virginia and download it right away in the My Forms tab. You can also gain access to formerly downloaded forms.
Could it be your first time making use of US Legal Forms? Sign up and set up your account in a few minutes and you will gain access to the form catalogue and Life Estate Deed In Virginia. Then, follow the steps below to complete your form:
- Be sure you have discovered the proper form by using the Review option and looking at the form information.
- Choose Buy Now once ready, and select the subscription plan that fits your needs.
- Select Download then complete, sign, and print the form.
US Legal Forms has 25 years of expertise assisting users manage their legal papers. Get the form you want right now and improve any process without breaking a sweat.
Form popularity
FAQ
The person holding the life estate ? the life tenant ? possesses the property during his or her life. The other owner ? the remainderman ? has a current ownership interest but cannot take possession until the death of the life estate holder.
With a traditional life estate, once the deed has been filed, it cannot be revoked or otherwise changed without the written consent of both the life tenant and the remainderman.
The whole process of settling an estate can take well over 16 months in Virginia. A traditional life estate deed is one way to transfer property on death without going through probate.
The person holding the life estate ? the life tenant ? possesses the property during his or her life. The other owner ? the remainderman ? has a current ownership interest but cannot take possession until the death of the life estate holder.
More info
A life estate deed is a legal document that changes the ownership of a piece of real property. A traditional life estate deed is one way to transfer property on death without going through probate.Virginia life estate laws are designed to help avoid future problems with estate distribution. A life estate in real estate is a type of "split interest" ownership based on time, similar in concept to a time-share. A life estate is a legal way to pass the ownership rights of your home to another person. Learn more about creating a life estate and how it works. A transfer on death deed is a type of deed that identifies one or more beneficiaries who should inherit real estate at the owner's death. Upon her death, the house title would be immediately passed to the holder of the remainder interest (her son), also known as the remainderman. Still, upon their death, all the property rights would transfer to the remainderman. The remainderman then gets the entire bundle of real property rights.