This is a Basic Life Estate Deed. A life estate has exclusive rights to the use and enjoyment of the land, including the right to live there, and all income rights from the property, as. long as the life estate owner has a pulse. The “remainder” interest of the. property is what remains at the death of the life tenant.
To create a Basic Life Estate Deed, it’s best to consult with a lawyer to ensure everything is done correctly and according to California law.
Yes, if you need to move out of your home permanently, you won't be able to sell the property easily. Also, your beneficiary can't sell it without your permission.
Selling a property with a Life Estate Deed is tricky; you can sell your life interest, but the new owner won't have full ownership until you pass away.
The beneficiary can be anyone you choose, such as a family member, friend, or even a charity, as long as the deed is properly drafted.
In Long Beach, a Life Estate Deed allows you to live in your home until you die, while ensuring that the property goes directly to your chosen beneficiary without going through probate.
A Basic Life Estate Deed is a legal document that lets a person own property for their lifetime, and then transfers it to someone else after they pass away.