Real Estate Legacy Proposal

REAL ESTATE LEGACY PROPOSAL

This Real Estate Legacy Proposal (the Proposal) is made by the undersigned proposing owner (the Owner) for the intended transfer of the real property described below to the proposed legacy recipient (the Recipient) on the terms and conditions set forth herein. This Proposal sets forth the material terms of the proposed legacy arrangement and is intended to form the basis for a binding Legacy Transfer Agreement upon acceptance and execution by both parties and completion of required transfer formalities.

Parties

Property Identification

Proposal Summary and Transfer Type

The Owner proposes the following form of legacy transfer (select all that apply and provide details). Selection of any transfer type obligates the Owner to negotiate in good faith to document the transfer consistent with the selected type.

Outright transfer at Owner's death by will, deed, or beneficiary designation Life estate to Owner with remainder to Recipient

Transfer to revocable or irrevocable trust for benefit of Recipient Conditional bequest / transfer subject to conditions

Financial Terms (if applicable)

If the proposed legacy contemplates payment or purchase as part of the transfer, describe consideration and payment terms below. If no consideration is involved, enter "No consideration."

Closing (or recordation) to occur on or before . Possession to be delivered on .

Encumbrances, Title and Liens

Does the Property have existing liens, mortgages, judgments, or other encumbrances? Yes No

Owner represents that, to Owner's knowledge, Owner holds marketable fee simple title except as disclosed above, and Owner shall cooperate to obtain or establish marketable title at closing or recordation as required by the selected transfer mechanism.

Maintenance, Insurance, Taxes and Utilities

During the period before transfer, Owner shall remain responsible for all property taxes, required insurance, routine maintenance and utilities unless otherwise agreed in writing. Provide any deviations:

Inspections, Due Diligence and Disclosures

Recipient may conduct inspections and due diligence within the following inspection period:

Required property disclosures (select Yes or No):

Lead-based paint: Yes No

Known mold or water intrusion: Yes No

Prior structural damage or repairs: Yes No

Default, Remedies and Enforcement

If either party materially breaches obligations agreed in any subsequently executed Legacy Transfer Agreement or instrument, the non-breaching party shall provide written notice and a thirty (30) day period to cure unless otherwise stated. If the breach is not cured within the cure period, the non-breaching party may seek any remedy available at law or in equity, including specific performance to effectuate the transfer, injunctive relief, and recovery of costs and reasonable attorneys' fees incurred to enforce rights under this Proposal or the resulting transfer documents.

Title, Recording and Taxes on Transfer

The parties acknowledge that transfer of ownership may require recordation of instruments, payment of transfer taxes, and compliance with probate or trust administration procedures. Payment of transfer taxes and documentary fees shall be as set forth in this Proposal or in the subsequently executed transfer instrument.

Representations and Warranties

Owner represents and warrants that Owner is the legal owner of the Property with authority to propose this transfer; that the Property is not subject to undisclosed leases creating possessory rights, and that, to Owner's knowledge, there are no material undisclosed defects or violations of law affecting the Property other than as disclosed in this Proposal. Recipient acknowledges that Recipient has the opportunity to verify all facts through inspection and title review.

Acceptance and Effectiveness

This Proposal constitutes an offer by Owner. Recipient must accept this Proposal in writing by signing below and returning an executed copy to Owner on or before . Acceptance creates an obligation to proceed in good faith to prepare and execute definitive transfer documents consistent with the terms set forth herein.

Miscellaneous Provisions

Entire Agreement: This Proposal contains the entire proposal of the parties with respect to the subject matter hereof and supersedes all prior discussions. No amendment shall be effective unless in writing and executed by both parties.

Governing Law: This Proposal shall be governed by and construed in accordance with the laws of the state of , without regard to conflict of law principles.

Severability: If any provision of this Proposal is held invalid or unenforceable, the remaining provisions shall remain in full force and effect.

Acknowledgment

By signing below, the parties acknowledge that they have read this Proposal, understand its terms, and that acceptance shall obligate the parties to proceed to execute definitive transfer instruments consistent with the accepted terms. The parties further acknowledge that legal, tax, and estate planning advice may be necessary to effectuate the proposed legacy transfer, and that execution of this Proposal does not itself transfer title unless and until the parties execute and record the required transfer instruments.

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