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Life Estate Deed Form

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Instructions and help about rhode island life estate

and I'm an attorney with the Maryland volunteer lawyer service I'd like to take a couple minutes today to introduce life State deeds and highlight a few of the main things a homeowner should know about them a Life Estate Deed is a legal instrument that allows you as a homeowner to determine who has a legal right to live in your property today and who will own your property when you pass away it can be particularly useful for keeping a family home in the family and for avoiding the probate process however this product is not right for everybody so it's always best to consult with an attorney before signing a deed the first thing you need to know is a life State deed creates a form of co-ownership between individuals known as the life tenant and the remainderman the life tenant is the person who lives in the home and has the right to possess the property for the rest of their life as long as this person is alive the remainderman cannot sell or transfer the propert

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