Wisconsin Agreement to Devise or Bequeath Property to Grantors Who Convey Property to Testator

• Category: Wills - Trusts
• State: Multi-State
• Control #: US-0665BG
• Format: Word; Rich Text

Description

A person may enter into a valid agreement by which the person agrees to bequeath or devise property in his or her will to particular persons or for particular purposes. A Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator is a legal document that outlines the terms and conditions through which a property is conveyed back to the original granter, also known as the testator, upon their death. This agreement is particularly relevant for individuals who have previously transferred property to another party, usually for estate planning purposes, but wish to ensure that the property ultimately returns to them or their estate. The key components of a Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator include: 1. Identification of Parties: The agreement must clearly identify the testator or granter who conveyed the property initially and the current owner or grantee who possesses the property. Full legal names, addresses, and contact information should be included. 2. Description of Property: A thorough description of the property being conveyed must be provided in the agreement. This includes the physical address, legal description, and any additional relevant details. 3. Declaration of Intent: The agreement should explicitly state the testator's intention to devise or bequeath the property back to themselves or their estate upon their death. It should clearly indicate that the conveyance of the property to the current owner was temporary, revocable, or subject to specific conditions. 4. Revocation of Prior Conveyance: The agreement must include a section explicitly revoking any prior conveyance of the property. This ensures that the property reverts to the testator's ownership upon their death, overriding any conflicting provisions in previous agreements or conveyances. 5. Survivorship: If the agreement includes multiple granters or testators who conveyed property together, it may address the survivorship rights of the remaining testators. This ensures that if one of the testators passes away, their interest in the property automatically transfers to the surviving testator(s) as desired. Different types or variations of a Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator may include: 1. Joint Agreement: This type of agreement is applicable when multiple granters conveyed property jointly to a third party but wish to ensure that the property is ultimately devised or bequeathed back to them or their respective estates. 2. Conditional Agreement: In some cases, the agreement may contain specific conditions that must be met for the property to be conveyed back to the testator or their estate upon their death. This could include requirements such as the maintenance of the property or the payment of certain expenses. 3. Trust Agreement: Instead of directly conveying the property to the grantee, the testator may create a trust, stating the provisions for the property's conveyance back to themselves or their estate upon their death. This type of agreement often incorporates a trustee who holds the property on behalf of the testator until the terms of the trust are fulfilled. It is essential to consult with a qualified attorney when drafting a Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator to ensure its legality and enforceability according to Wisconsin state laws.

A Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator is a legal document that outlines the terms and conditions through which a property is conveyed back to the original granter, also known as the testator, upon their death. This agreement is particularly relevant for individuals who have previously transferred property to another party, usually for estate planning purposes, but wish to ensure that the property ultimately returns to them or their estate. The key components of a Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator include: 1. Identification of Parties: The agreement must clearly identify the testator or granter who conveyed the property initially and the current owner or grantee who possesses the property. Full legal names, addresses, and contact information should be included. 2. Description of Property: A thorough description of the property being conveyed must be provided in the agreement. This includes the physical address, legal description, and any additional relevant details. 3. Declaration of Intent: The agreement should explicitly state the testator's intention to devise or bequeath the property back to themselves or their estate upon their death. It should clearly indicate that the conveyance of the property to the current owner was temporary, revocable, or subject to specific conditions. 4. Revocation of Prior Conveyance: The agreement must include a section explicitly revoking any prior conveyance of the property. This ensures that the property reverts to the testator's ownership upon their death, overriding any conflicting provisions in previous agreements or conveyances. 5. Survivorship: If the agreement includes multiple granters or testators who conveyed property together, it may address the survivorship rights of the remaining testators. This ensures that if one of the testators passes away, their interest in the property automatically transfers to the surviving testator(s) as desired. Different types or variations of a Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator may include: 1. Joint Agreement: This type of agreement is applicable when multiple granters conveyed property jointly to a third party but wish to ensure that the property is ultimately devised or bequeathed back to them or their respective estates. 2. Conditional Agreement: In some cases, the agreement may contain specific conditions that must be met for the property to be conveyed back to the testator or their estate upon their death. This could include requirements such as the maintenance of the property or the payment of certain expenses. 3. Trust Agreement: Instead of directly conveying the property to the grantee, the testator may create a trust, stating the provisions for the property's conveyance back to themselves or their estate upon their death. This type of agreement often incorporates a trustee who holds the property on behalf of the testator until the terms of the trust are fulfilled. It is essential to consult with a qualified attorney when drafting a Wisconsin Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator to ensure its legality and enforceability according to Wisconsin state laws.