This form is a General Warranty Deed where the Grantor is an Individual and the Grantee is an Individual. Grantor conveys and generally warrants a life estate to the Grantee in the described property. This deed complies with all state statutory laws.
Ohio General Warranty Deed - Life Estate - Individual to Individual
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The name and address of the seller (called the grantor) The name and address of the buyer (called the grantee) A legal description of the property (found on the previous deed) A statement that the grantor is transferring the property to the grantee.
Attorney Involvement An attorney licensed to practice law in Ohio must prepare deeds, powers of attorney, and other instruments that are to be recorded. One exception is that a party to the transaction may prepare an instrument in which they are a party.
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.
The date the deed was made; The name of the party granting the life estate and their address; The name of the grantee and their address; The address and a legal description of the property that is subject to the life estate;
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.