Los Angeles California Agreement to Devise or Bequeath Property to Grantors Who Convey Property to Testator

• Category: Wills - Trusts
• State: Multi-State
• County: Los Angeles
• 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. Los Angeles, California Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator is a legal document that outlines the arrangement between granters who convey property to a testator and the testator's ability to devise or bequeath that property back to the granters. This agreement ensures that the property is handled according to the desires of all parties involved, establishing a clear plan for its future ownership and distribution. In Los Angeles, California, there are two main types of Agreements to Devise or Bequeath Property to Granters Who Convey Property to Testator: 1. Testamentary Agreement: This type of agreement is created within the testator's last will and testament. It states that if the granters convey property to the testator during their lifetime, the testator intends to devise or bequeath the same property back to the granters upon their death. This agreement becomes effective only after the testator's death and is subject to the terms outlined in their will. 2. Inter Vivos Agreement: This agreement, also known as a living agreement or a disposition agreement, is created during the granters' lifetime. It establishes that if the granters convey property to the testator, the testator will devise or bequeath the same property back to the granters upon their death. Unlike a testamentary agreement, an inter vivos agreement takes effect immediately upon execution and does not rely on the testator's death. Both types of agreements must be formalized in writing and signed by all parties involved to ensure their validity. It is crucial to consult with legal professionals who specialize in estate planning or real estate law to properly draft and execute these agreements.

Los Angeles, California Agreement to Devise or Bequeath Property to Granters Who Convey Property to Testator is a legal document that outlines the arrangement between granters who convey property to a testator and the testator's ability to devise or bequeath that property back to the granters. This agreement ensures that the property is handled according to the desires of all parties involved, establishing a clear plan for its future ownership and distribution. In Los Angeles, California, there are two main types of Agreements to Devise or Bequeath Property to Granters Who Convey Property to Testator: 1. Testamentary Agreement: This type of agreement is created within the testator's last will and testament. It states that if the granters convey property to the testator during their lifetime, the testator intends to devise or bequeath the same property back to the granters upon their death. This agreement becomes effective only after the testator's death and is subject to the terms outlined in their will. 2. Inter Vivos Agreement: This agreement, also known as a living agreement or a disposition agreement, is created during the granters' lifetime. It establishes that if the granters convey property to the testator, the testator will devise or bequeath the same property back to the granters upon their death. Unlike a testamentary agreement, an inter vivos agreement takes effect immediately upon execution and does not rely on the testator's death. Both types of agreements must be formalized in writing and signed by all parties involved to ensure their validity. It is crucial to consult with legal professionals who specialize in estate planning or real estate law to properly draft and execute these agreements.