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A Tennessee life estate deed form gives one individual (the life tenant) a lifetime interest in real estate and another person (the remainderman) the right to take title after the life tenant dies.

The documents can be prepared by anyone as long as the required information is written in the deed as outlined in § 66-5-103. Once the forms have been prepared, along with the Legal Description of the property, it may be signed with two (2) witnesses or a notary public.

Signing Requirements – Must be signed by the grantor(s) in the presence of a Notary Public or two (2) subscribing witnesses (T. C. A. § 66-22-101).

After the death of the life tenant (or earlier termination of the trust), the remaining capital of the trust fund can then be passed on to other individuals, known as the remaindermen, or a separate trust, as set out in the will.

Leave a Life Estate: If you are concerned about a particular child having a place to live, you could bequeath the property to that child in a Life Estate. He or she would own an interest in the property during their lifetime, but the property would then pass to the beneficiaries you previously established in your will.

A life estate vests the beneficial use of property in a person for their lifetime. The person who holds the life estate is the life tenant. The life tenant may have the right to occupy a residential property and/or the right to income from property that is rented or leased to others.

The seller or the seller's broker will hire an attorney to prepare the real estate deed to ensure that all of the requirements in the creation of a valid deed are met before the seller conveys title to the property, reveals National Paralegal College. All real estate deeds must be in writing.

The documents can be prepared by anyone as long as the required information is written in the deed as outlined in § 66-5-103. Once the forms have been prepared, along with the Legal Description of the property, it may be signed with two (2) witnesses or a notary public.

A Life Estate Is an “Interest in Property” An individual who holds a fee simple interest in property has the right to live on the property for his lifetime.