Life Estate Deed With Powers

• Category: Real Estate - Deeds - Enhanced Life Estate or Lady Bird
• State: California
• Control #: CA-012-83
• Format: Word; Rich Text

Description

The Life Estate Deed with Powers is a legal document used primarily in California for conveying property while retaining certain rights for the grantors. This form allows the grantors to maintain possession and control over the property during their lifetime, including the ability to sell, lease, or encumber the property. Upon the death of the grantors, the title fully transfers to the designated grantee, ensuring a smooth transition of ownership without the need for probate. Users can complete this form electronically through available form fields or print it for manual completion. Key features include provisions for exemptions from documentary transfer tax, as well as the ability to revoke the deed prior to the grantors' deaths. This form is particularly beneficial for estate planning purposes, allowing individuals, particularly those in relationships or familial situations, to designate heirs while retaining rights to enjoy and manage the property. The target audience—attorneys, partners, owners, associates, paralegals, and legal assistants—will find this form essential for establishing and protecting real estate interests within estate plans.