Kansas Quitclaim Deed of Life Estate Interest Created Under A Will, to the Remainderman

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Multi-State
Control #:
US-OG-065
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Word; 
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Description

It is not uncommon for a will to provide that a person be devised a life estate interest in mineral or royalty interests, and on the death of that person, the remainder of the interest to pass to another party. This deed form provides for the owner of a life estate, devised under a will, to quit claim that life estate interest to the owner of the remainder interest.

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FAQ

Kansas Transfer-on-Death Deed A transfer-on-death (TOD) deed is like a regular deed you might use to transfer real estate located in Kansas, but with a crucial difference: It doesn't take effect until your death.

The most common way to transfer property is through a general warranty deed (sometimes called a "grant deed"). A general warranty deed guarantees good title from the beginning of time. A special warranty deed only guarantees good title during the seller's time of ownership.

Does Kansas Charge a Transfer Tax for Real Estate Transfers? No. Kansas is one of a few states with no transfer tax or deed tax on real estate transfers.

The current property owner with the right to transfer the property must sign a Kansas deed. A deed that transfers a co-owned property should include the signatures of both owners. A lawful agent or attorney who can act on the owner's behalf may sign a deed for the owner.

There is no simple way to reverse a life estate because a life estate deed is a legal transfer of the title of a property. This is legally binding and the transaction is complete when the life estate is executed. Essentially, in order to reverse a life estate both parties would need to agree to make it happen.

Property owned in joint tenancy with right of survivorship is fully transferred to the surviving owner, upon the death of one owner. Note: You must provide an accurate legal description of the property, so obtaining a copy of your deed is best.

Main Parts of the Document Space for County Recorder's Office mark. Details of the form's author. Documents date. Grantor's name and marital status. Grantee's name and marital status. Transaction amount. Property location and legal description. Signatures.

The deed must be signed by the grantor and acknowledged by an individual authorized to take acknowledgements. All signatures must be original. Record the completed gift deed with the Register of Deeds in the county where the subject property is located.

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Kansas Quitclaim Deed of Life Estate Interest Created Under A Will, to the Remainderman