This form is a warranty deed from parent(s) to child with a reservation of a life estate in the parent(s). The form allows the grantor(s) to convey property to the grantee, while maintaining an interest in the property during the lifetime of the grantor(s).
Ohio Warranty Deed to Child Reserving a Life Estate in the Parents
State:
Ohio
Control #:
OH-021-77
Format:
Word;
Rich Text
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How to fill out Ohio Warranty Deed To Child Reserving A Life Estate In The Parents?
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FAQ
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.