Life Estate Deed Arkansas With Powers
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FAQ
Under the law, any person who owns a property and is competent to contract can transfer it in favour of another. If the owner gives another individual a power of attorney (POA), that person can sell it under this authority. A POA gives another person the power to act on behalf of the owner.
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.
Pur autre vie (per o-truh vee) is a French legal phrase which means for another's life. This phrase is durational in meaning as it is another's life, not that of the possessor, that is used to measure the amount of time someone has a right to possess real property.
Spouses in Arkansas Inheritance LawIf you have children or other descendants, your spouse has the right to a third of your real estate for life. After your death, your children or descendants will inherit the property outright, except for the third that your spouse is entitled to.
