North Carolina Life Estate Deed Form

A life estate, when used to gift property, splits ownership between the giver and receiver. Many parents set up a life estate to reduce their assets in order to qualify for Medicaid. Even though the parent still retains some interest in the property, Medicaid does not count it as an asset.

Reservation of the present interest allows the owner to retain ownership for a period of time measured by the life of one or more individuals, by a term of years, or by a combination of the two.

A lifetime estate on a deed is a type of property ownership. It gives an individual the right to occupy and use a property during that individual's lifetime.After the death of the occupant, the life estate terminates and transfers to another person, known as the remainderman.

This life estate deed is a document that transfers ownership of real property, while reserving access and use of the property for the duration of the grantor's life. It allows the original owner (grantor) to remain on the premises with full access to and benefits from the property.

A person owns property in a life estate only throughout their lifetime. Beneficiaries cannot sell property in a life estate before the beneficiary's death. One benefit of a life estate is that property can pass when the life tenant dies without being part of the tenant's estate.

A person owns property in a life estate only throughout their lifetime. Beneficiaries cannot sell property in a life estate before the beneficiary's death. One benefit of a life estate is that property can pass when the life tenant dies without being part of the tenant's estate.

This life estate deed is a document that transfers ownership of real property, while reserving access and use of the property for the duration of the grantor's life. It allows the original owner (grantor) to remain on the premises with full access to and benefits from the property.

A life estate is the interest in property that is measured by the life of a person. It can be granted to someone for his or her lifetime or for the lifetime of another. The life estate interest gives the holder the right to all the benefits of the property during the lifetime for which it is granted.

A life estate is a form of joint ownership that gives a person (the life tenant) ownership rights in property during their lifetime. But when the life tenant dies, the remainder interest in the property goes to the beneficiary, also known as the remainderman.