Maine Quitclaim Deed of Life Estate Interest Created Under A Will, to the Remainderman
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How to fill out Quitclaim Deed Of Life Estate Interest Created Under A Will, To The Remainderman?
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FAQ
Covenant against encumbrances: The seller warrants that the property is free of any liens or encumbrances unless they're specifically stated in the deed. Covenant of quiet enjoyment: The buyer is guaranteed that the title will be good against third parties attempting to establish title to the property.
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.
In Maine, there are several types of deeds used to transfer real estate, each with different levels of warranties and protection for the buyer. The Maine quitclaim deed with covenant offers limited protection. Maine warranty deeds more protection, and Maine quitclaim deeds without covenant provide less protection.
A deed is a formal document conveying an interest in real property from one party to another. A covenant is most typically going to refer to a condition that is part of either of those transactions, such as a contractual covenant not to compete or a deed covenant to use property in a certain way.
Covenant against Encumbrances relates to the past and guarantees there are no monetary claims against the property. Covenant of Further Assurance relates to the future and forces the grantor to correct the deed if necessary.
Recording ? Like all deeds in Maine, this deed must be acknowledged by a notary and filed with the Registry of Deeds in the County in which the property is located. Real Estate Transfer Tax (§ 4641) ? Must be filed with an accompany deed and can be completed Online or with the Printable Form.
A deed in substance following the form entitled "Quitclaim Deed With Covenant" shall when duly executed have the force and effect of a deed in fee simple to the grantee, his heirs and assigns forever, with covenant on the part of the grantor, for himself, with the grantee, his heirs and assigns forever, that at the ...
