This form is a General Warranty Deed where the Grantors are five (5) individuals transferring a life estate to an individual Grantee. Grantors convey and generally warrant the life estate to the Grantee. This deed complies with all state statutory laws.
Life Estate Texas With Powers
Category:
State:
Texas
Control #:
TX-097-78
Format:
Word;
Rich Text
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How to fill out Texas General Warranty Deed Transferring Life Estate From Five Individuals To An Individual?
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FAQ
Filters. Latin/French. For the life of another, term often used in bequeathing a right (but not title) in property.
Upon your death, all that is required for full title to be transferred to the names of these beneficiaries is the filing of an affidavit in the county property records reflecting the date of your death, and that there are no outstanding debts of the estate and no estate or inheritance tax due.
During the term of the life tenancy, life tenants have the duty to pay for utilities, expenses necessary to maintain the property in good condition, property taxes, and interest on the mortgage (the principal is owed by the remainderman).
The life estate deed removes the property from the life tenant's estate and transfers the property upon the death of the life tenant. This eliminates the property from probate. Once this deed is created, the life tenant usually CANNOT make changes to title of the property.
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.