Connecticut Affidavit As to Termination of Life Estate Created by Deed / Assignment
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How to fill out Affidavit As To Termination Of Life Estate Created By Deed / Assignment?
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FAQ
In Connecticut an owner of real property can can transfer ownership of their property by a quit claim deed of the property to another person(s) and retain a life use, allowing them to continue living in the home until their death. This avoids probate of this real property.
With a standard life estate deed, if circumstances change, the property's original owner?who, again, is often also the life estate holder or life tenant?can reverse or change the life estate deed only with the approval of the remainderman.
A life estate deed creates a unique balance of ownership between the life tenant (the person living in the property) and the remainderman. The life tenant retains the right to live in the property until death, at which point ownership automatically transfers to the remainderman.
A life estate is a form of ownership of real property. The person who holds the life estate is called the life tenant, and he or she is given rights to occupy the property until death. The other owner(s) are called remaindermen.
Removing a Living Person from a Life Estate If someone (an owner) is alive, they cannot be ?removed? from a deed. Further, a co-owner cannot remove the interests of other owners in an estate by executing a new deed without their consent. There is no direct or indirect way to eliminate any of them from a title.
A remainderman is a property law term that refers to a person who stands to inherit property at a future point in time upon the termination of a preceding estate?usually a life estate. A remainderman is a third person other than the estate's creator, initial holder, or either's heirs.
There is no simple way to reverse a life estate because a life estate deed is a legal transfer of the title of a property. This is legally binding and the transaction is complete when the life estate is executed. Essentially, in order to reverse a life estate both parties would need to agree to make it happen.
(a) All conveyances of land shall be: (1) In writing; (2) if the grantor is a natural person, subscribed, with or without a seal, by the grantor with his own hand or with his mark with his name annexed to it or by his agent authorized for that purpose by a power executed, acknowledged and witnessed in the manner ...
