Life Estate Grant

California Grant Deed With Retained Enhanced Life Estates

[Two Individuals/Husband and Wife to Two Individuals/Husband and Wife]

Control Number: CA-04-83

I. TIPS ON COMPLETING THE FORMS

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By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered.

II. BASIS OF EXEMPTION FROM TRANSFER TAX

The following is a list of real estate transactions that are exempt from the documentary transfer tax:

1. Conveyance Confirming Title in Grantee:

"This conveyance confirms title to the grantee(s) who continue to hold the same interest acquired on Date , Document No. wherein $ Documentary Transfer Tax was paid, R & T 11911."

2. Conveyance in Dissolution of Marriage:

"This conveyance is in dissolution of marriage by one spouse to the other, R & T 11927."

3. Conveyance to Secure a Debt:

"This conveyance is to secure a debt, R & T 11921."

4. Reconveyance upon Satisfaction of a Debt:

"This is a reconveyance of realty upon satisfaction of a debt, R & T 11921."

5. Conveyances transferring Interests into or out of a Living Trust:

"This conveyance transfers an interest into or out of a Living Trust, R & T 11930."

6. Conveyance Changing Manner in Which Title is Held:

"This conveyance changes the manner in which title is held, grantor(s) and grantee(s) remain the same and continue to hold the same proportionate interest, R & T 11911."

7. Court Ordered Conveyances Not Pursuant to Sale:

"This is a court-ordered conveyance or decree that is not pursuant to sale, R & T 11911."

8. Conveyance Given for No Value:

"This is a bonafide gift and the grantor received nothing in return, R & T 11911."

9. Conveyance to Establish Sole and Separate Property of a Spouse:

"This conveyance establishes sole and separate property of a spouse, R & T 11911."

10. Conveyance to Confirm a Community Property Interest when property was purchased with Community Property Funds:

"This conveyance confirms a community property interest, which was purchased with Community Property Funds, R & T 11911."

11. Conveyances to Confirm a Change of Name:

"This conveyance confirms a change of name, and the grantor and grantee are the same party, R & T 11911."

12. Conveyances of an Easement or Oil and Gas Lease Where the Consideration and Value is Less Than $100.00:

"This is a conveyance of an easement (Oil and Gas Lease) and the consideration and value is less than $100.00, R & T 11911."

13. Conveyances Where the Liens and Encumbrances Are Equal or More Than the Value of Property, and No Further Consideration is Given:

"The value of the property in this conveyance, exclusive of liens and encumbrances is $100.00 or less, and there is no additional consideration received by the grantor, R & T 11911."

14. Conveyances from a Trustee Under a Land Contract at the Consummation of the Contract:

"This is a conveyance of equitable title from a trustee, under a land contract, to the vendee at the consummation of the contract, R & T 11911."

15. Conveyance from Individual(s)/Legal Entity(ies) to Individual(s)/Legal Entity(ies) Where the Grantors and Grantees Are Comprised of the Same Parties, and Parties Continue to Hold the Same Proportionate Interest.

(Exception: Dissolution of a Partnership. R & T 11925[b]):

"The grantors and the grantees in this conveyance are comprised of the same parties who continue to hold the same proportionate interest in the property, R & T 11925(d)."

NOTE: If the transfer qualifies for exemption under one of the above categories, this should be noted on the face of the deed in the space provided.

III. How will the Grantees hold the property after the transfer?

In the State of California real property can be held by more than one person (concurrent estates) in the following ways:

A. If the Grantees ARE NOT married to each other, they can hold the property as:

1. Tenants in Common is a type of concurrent estate in which each party owns an undivided interest in the property that will pass to their heirs when the tenant in common dies.

2. Joint Tenants with the Right of Survivorship is a type of concurrent estate in which co-owners have a right of survivorship.

B. If the Grantees ARE married to each other, they can hold the property as:

1. Tenants in Common – see above.

2. Joint Tenants with the Right of Survivorship – see above.

3. Community Property is a type of concurrent estate where all property acquired during the marriage, other than gift or inheritance, is considered to be community property.

4. Community Property with the Right of Survivorship is generally the same as Community Property above but with a significant difference.

C. In the attached deed, the preparer will need to indicate how the Grantees will hold the property.

Grantees: , an individual, and , individuals, as .

D. For additional information on the above terms, see the information at:

IV. DISCLAIMER

These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of California. All information and Forms are subject to this Disclaimer.

All forms in this package are provided without any warranty, express or implied, as to their legal effect and completeness. Please use at your own risk.

THESE MATERIALS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF ANY KIND.

GRANT DEED

[Two Individuals/Husband and Wife to Two Individuals/Husband and Wife]

TRA:

APN:

FOR A VALUABLE CONSIDERATION, receipt of which is hereby acknowledged,

GRANTORS: , and , individuals,

do hereby GRANT to

GRANTEES: , and , individuals,

as ,

The following described REAL ESTATE in County, in the State of California, to-wit:

See Legal Description Attached as Exhibit A incorporated by reference as though set forth in full

Legal Description:

TOGETHER with all the estate and rights of GRANTORS in such property, with the following Reservations and Exceptions to Conveyance and Warranty:

All easements, restrictions, and reservations of record and taxes for the current and subsequent years.

GRANTORS reserves unto themselves, for and during their lifetime, the exclusive possession, use, enjoyment, and right of income of the property described herein.

GRANTORS further reserves unto themselves, for and during their lifetime, the right to sell, lease, encumber, or otherwise manage and dispose of the property described herein.

GRANTEES shall hold a remainder interest in the property described herein and upon the death of the GRANTORS, all right and title to the property remaining shall fully vest in any surviving GRANTEE.

EXECUTED this day of , 20

A notary public or other officer completing the certificate verifies only the identity of the individual who signed the document and not the truthfulness, accuracy, or validity of that document.

State of California

County of

On before me,

personally appeared

who proved to me on the basis of satisfactory evidence to be the person whose name is subscribed to the within instrument and acknowledged to me that he executed the same in his authorized capacity.

WITNESS my hand and official seal.

Signature (Seal)

EXHIBIT A

APN:

First Grantor:

Second Grantor:

First Grantee:

Second Grantee:

EXHIBIT B

COMMUNITY PROPERTY AGREEMENT

It is hereby agreed by and between and , Husband and Wife, Grantees herein, that the above described community property shall, in the event of the death of one spouse, vest in and belong to the surviving spouse.