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).
Deed For Life Estate
Category:
State:
Connecticut
Control #:
CT-021-77
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Connecticut Warranty Deed To Child Reserving A Life Estate In The Parents?
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FAQ
Another common term for a life estate is a 'life tenancy.' This term refers to the same legal concept, where the life tenant has the right to occupy and use the property for their lifetime. Establishing a deed for life estate or life tenancy offers clear title to the property, preventing misunderstandings or disputes about ownership in the future.
A remainderman is the individual who will inherit the property once the life tenant passes away. For example, if a parent creates a deed for life estate naming their child as the remainderman, the child will automatically become the full owner of the property once the parent dies. This arrangement helps secure the child's future ownership while allowing the parent to enjoy living in the property.
A life estate is a legal arrangement that allows a person to use and enjoy a property during their lifetime. After their passing, ownership of the property transfers to a designated individual, known as the remainderman. When you create a deed for life estate, you ensure that the property remains protected and clear in terms of ownership after your death.