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).
Life Estate Deed Form Wisconsin For Powers
State:
Wisconsin
Control #:
WI-021-77
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Wisconsin Warranty Deed To Child Reserving A Life Estate In The Parents?
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FAQ
A deed and an Electronic Wisconsin Real Estate Transfer Return (eRETR) must be completed to convey title to real estate. If you need additional information in regards to your inquiry you will have to consult with a title company or an attorney. You can also contact the Register of Deeds at (608) 266-4141.
A quitclaim deed conveys to the new owner?the deed's grantee?whatever interest the current owner holds when signing the deed. As quitclaim deeds provide no warranty, the current owner?the deed's grantor?makes no representations as to the quantity or quality?or even the existence?of the transferred interest.
It must be filed electronically on the Wisconsin Department of Revenue website . The eRETR receipt and any applicable transfer fee must accompany the document intended to be recorded.
Legal instruments such as warranty deeds, quit claim deeds, etc., that convey title from one property owner to a new owner, are usually drafted by attorneys, or paralegals or legal secretaries under the supervision of an attorney.
A life estate is created when a property holder transfers ownership of the property to someone else and retains the right to live on the property and the income from it. The new owner of the property is referred to as the remainder person.