This form is a Quitclaim Deed with a retained Enhanced Life Estate where the Grantors are husband and wife, or two individuals, and the Grantees are four (4)individuals. It is also known as a "Lady Bird" Deed. Grantors conveys the property to Grantees subject to an enhanced retained life estate. The Grantors, and each of them, retain the right to sell, encumber, mortgage or otherwise impair the interest Grantees might receive in the future, without joinder or notice to Grantees, with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
Nc Life Estate With Reversionary Interest
State:
North Carolina
Control #:
NC-06-82
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out North Carolina Enhanced Life Estate Deed (Lady Bird) From Husband And Wife, Or Two Individuals, To Four Individuals As Tenants In Common.?
The Nc Life Estate With Reversionary Interest you see on this page is a multi-usable legal template drafted by professional lawyers in compliance with federal and regional laws. For more than 25 years, US Legal Forms has provided individuals, organizations, and legal professionals with more than 85,000 verified, state-specific forms for any business and personal occasion. It’s the fastest, easiest and most reliable way to obtain the documents you need, as the service guarantees the highest level of data security and anti-malware protection.
Obtaining this Nc Life Estate With Reversionary Interest will take you just a few simple steps:
- Look for the document you need and check it. Look through the sample you searched and preview it or check the form description to ensure it satisfies your requirements. If it does not, utilize the search option to get the correct one. Click Buy Now once you have found the template you need.
- Subscribe and log in. Select the pricing plan that suits you and register for an account. Use PayPal or a credit card to make a quick payment. If you already have an account, log in and check your subscription to continue.
- Get the fillable template. Pick the format you want for your Nc Life Estate With Reversionary Interest (PDF, DOCX, RTF) and download the sample on your device.
- Fill out and sign the paperwork. Print out the template to complete it by hand. Alternatively, use an online multi-functional PDF editor to rapidly and accurately fill out and sign your form with a valid.
- Download your papers again. Utilize the same document once again anytime needed. Open the My Forms tab in your profile to redownload any earlier purchased forms.
Subscribe to US Legal Forms to have verified legal templates for all of life’s circumstances at your disposal.
Form popularity
FAQ
A common example of reversion is a leasehold estate, in which the lessee has the right to use and occupy the property for a specified period of time. When the lease term ends, the property reverts to the lessor.
Reversion and remainder are both types of future interests for a property. Reversion is when the original grantor of the original conveyance retains the right to future possession of the property. Remainder is when that future interest is transferred to someone other than the original grantor.
The ordinary conventional life estate with remainder or reversion, for example, does not continue for an indefinite period but terminates when the person on whose life the estate is based, or the life tenant, becomes deceased.
A remainder interest is the right to use, possess, or enjoy property when the prior interest (term or life) ends. Mathematically, the value of a remainder interest is found by subtracting the present value of the prior interest from the entire fair market value of the property.
A reversion is that portion of a fee estate that continues in the grantor after the grantor has conveyed a life estate. For example, when A conveys a life estate to B, the portion of the fee estate remaining in A is a reversion. When B's life estate ends, the right to ownership and possession will revert to A.