This form is a General Warranty Deed where the grantors are husband and wife and the grantees are four individuals. One Grantee receives a life estate with the remainder to the other Three Grantees as tenants in common. Grantors convey and generally warrant the described property to the grantee. This deed complies with all state statutory laws.
Arkansas General Warranty Deed - Husband and Wife to Individual for Life and Remainder to Three Individuals
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Arkansas
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AR-020-78
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They are (1) covenant for seisin; (2) covenant of the right to convey; (3) covenant against encumbrances; (4) covenant for QUIET ENJOYMENT; (5) covenant of general WARRANTY; and (6) covenant for further assurances.
There are several different essentials to a valid deed: 1. It must be in writing; 2. The parties must be properly described; 3. The parties must be competent to convey and capable of receiving the grant of the property; 4.
A life estate deed permits the property owner to have full use of their property until their death, at which point the ownership of the property is automatically transferred to the beneficiary.
Be in writing. make clear on its face that it is intended to be a deed by the person making it or the parties to it. be validly executed as a deed by the person making it or one or more of the parties to it (section 1 of the Law of Property (Miscellaneous Provisions) Act 1989)
1The name and address of the seller (called the grantor)2The name and address of the buyer (called the grantee)3A legal description of the property (found on the previous deed)4A statement that the grantor is transferring the property to the grantee.How to Use a General Warranty Deed .com\nwww..com > articles > how-to-use-a-general-warranty-deed
With a life estate deed, the remainderman's ownership interest vests when the deed is signed and delivered (or recorded in the public record). Accordingly, the children's ownership interest in the property vested upon their father signing the deed and recording it in the public records, or the year 2000.
Contrary to normal expectations, the Deed DOES NOT have to be recorded to be effective or to show delivery, and because of that, the Deed DOES NOT have to be signed in front of a Notary Public. However, if you plan to record it, then it does have to be notarized as that is a County Recorder requirement.
A person owns property in a life estate only throughout their lifetime. Beneficiaries cannot sell property in a life estate before the beneficiary's death. One benefit of a life estate is that property can pass when the life tenant dies without being part of the tenant's estate.
1The date the deed was made;2The name of the party granting the life estate and their address;3The name of the grantee and their address;4The address and a legal description of the property that is subject to the life estate;How to Set up a Life Estate: 10 Steps (with Pictures) - wikiHow\nwww.wikihow.com > Set-up-a-Life-Estate