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Warranty Deed to Child Reserving a Life Estate in the Parents Michigan Form

Warranty Deed to Child Reserving a Life Estate in the Parents Michigan Form

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holly why don't you tell the listeners what is the difference between an ordinary life state deed and an enhanced life estate deed absolutely so in an ordinary life estate deed you the owner of a home are saying i'm going to retain a life estate in my property and upon my passing i am going to then pass the home off to my kids you know if you have two kids you're gonna pass them off to the two kids everyone now is on that deed if you the homeowner decides you know what i'm selling my property you can sell your property but you will need your two kids to join in and agree to the sale of that property so it's locked in it's written in stone and you can't change it without their knowledge signature and consent now compare that to the enhanced life estate deed where within the deed itself you're reserving all rights of ownership the right to sell the right to profit from the home income without the signature knowledge and cons

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