Warranty deed to child reserving a life estate in the parents oklahoma form
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Prepared by U.S. Legal Forms, Inc.
Copyright 2016 - U.S. Legal Forms, Inc.
STATE OF OKLAHOMA
WARRANTY DEED TO CHILD - RESERVING
LIFE ESTATE TO PARENT
Control Number – OK - 021 - 77
NOTES ON COMPLETING THESE FORMS
The form(s) in this packet contain “form fields” created using Microsoft Word. “Form fields”
facilitate completion of the forms using your computer. They do not limit you ability to print
the form “in blank” and complete with a typewriter or by hand.
It is also helpful to be able to see the location of the form fields. Go to the View menu,
click on Toolbars, and then select Forms. This will open the forms toolbar. Look for the
button on the forms toolbar that resembles a “shaded letter “a”. Click in this button and
the form fields will be visible.
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. In other
cases it will not. This is appropriate and the way the form is designed to function.
DISCLAIMER
These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the
State of Oklahoma. 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. If you have a serious legal problem we suggest that
you consult an attorney. U.S. Legal Forms, Inc. does not provide legal advice. The products
offered by U.S. Legal Forms (USLF) are not a substitute for the advice of an attorney.
THESE MATERIALS ARE PROVIDED "AS IS" WITHOUT ANY EXPRESS OR IMPLIED WARRANTY OF
ANY KIND INCLUDING WARRANTIES OF MERCHANTABILITY, NONINFRINGEMENT OF
INTELLECTUAL PROPERTY, OR FITNESS FOR ANY PARTICULAR PURPOSE. IN NO EVENT SHALL U.
S. LEGAL FORMS, INC. OR ITS AGENTS OR OFFICERS BE LIABLE FOR ANY DAMAGES
WHATSOEVER (INCLUDING, WITHOUT LIMITATION DAMAGES FOR LOSS OF PROFITS, BUSINESS
INTERRUPTION, LOSS OF INFORMATION) ARISING OUT OF THE USE OF OR INABILITY TO USE THE
MATERIALS, EVEN IF U.S. LEGAL FORMS, INC. HAS BEEN ADVISED OF THE POSSIBILITY OF SUCH
DAMAGES.
Prepared By and After Recording Return to:
Send Tax Statements to Grantee (Name and
Address):
-------- Above This Line Reserved For Official Use Only--------
WARRANTY DEED
(Reserved Life Estate)
KNOW ALL MEN BY THESE PRESENTS THAT:
FOR VALUABLE CONSIDERATION OF TEN DOLLARS ($10.00), and other good
and valuable consideration, cash in hand paid, the receipt and sufficiency of which is hereby
acknowledged, ________________________ and ______________________________ ,
Husband and Wife, hereinafter referred to as “Grantors”, do hereby grant, convey and warrant
unto ____________________________________ , an individual, married unmarried,
hereinafter “Grantee”, whether one or more, the following lands and property, together with all
improvements located thereon, lying in the County of __________________ , City of
__________________ , State of Oklahoma, to-wit:
SUBJECT to Life Estates retained by ____________________________________ and
____________________________________ , Grantors, to run consecutively. It being the intention
of the Grantors that the ending of one Life Estate shall in no way affect the remaining Life Estate.
Warranty Deed Page 1 of 2
LESS AND EXCEPT all oil, gas and minerals, on and under the above described property
owned by Grantor(s), if any, which are reserved by Grantor(s).
SUBJECT to all easements, rights-of-way, protective covenants and mineral reservations
of record, if any.
The property herein conveyed is not a part of the homestead of Grantor(s), or is part
of the homestead of Grantor(s) and the conveyance is joined by both Husband and Wife.
WITNESS Grantor(s) hand(s) this the ____ day of ________________ , 20 ____ .
__________________________________
Grantor
{Type Name}
__________________________________
Grantor
{Type Name}
STATE OF ____________________________
COUNTY OF ____________________________
This instrument was acknowledged before me on ____________________________ (date) by
__________________________________________ (name(s) of person(s)).
______________________________
NOTARY PUBLIC
Print Name: _____________________
My Commission Expires:
___________________
Grantor(s) Name, Address, phone:
Grantee(s) Name, Address, phone:
SEND TAX STATEMENTS TO GRANTEE
Warranty Deed Page 2 of 2
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FAQs
Here is a list of the most common customer questions. If you can’t find an answer to your question, please don’t hesitate to reach out to us.
A life estate deed in Oklahoma is a legal document that allows property owners to transfer their property rights while retaining the right to live in the property for the rest of their lives. This type of deed is particularly beneficial for estate planning. It ensures that the property passes directly to designated heirs upon the owner's death, avoiding probate.
Using a life estate deed in Oklahoma can provide signNow benefits, such as avoiding probate and ensuring property is passed on to chosen heirs. It also allows the original owner to maintain control and use of the property during their lifetime. This method can simplify estate management and reduce tax implications.
The costs related to a life estate deed in Oklahoma typically include legal fees for drafting the document and possible recording fees. While airSlate SignNow provides an affordable electronic solution for document signing, it’s crucial to consider additional costs if legal advice is necessary for creating a valid deed.
Yes, a life estate deed in Oklahoma can typically be revoked or modified by the original property owner, provided they have not passed away. It usually requires drafting a new document and following the legal procedures for making amendments. Consulting with a legal expert is recommended to ensure all changes comply with local laws.
In general, a life estate deed in Oklahoma can have tax implications, depending on specific circumstances and property value. While the transfer of property via a life estate deed usually does not incur capital gains tax until the property is sold, it is advisable to consult a tax professional for personalized tax advice. Understanding your obligations can help you navigate potential tax consequences more effectively.
airSlate SignNow offers features that simplify the management of life estate deeds, including an intuitive eSignature process, document storage, and sharing capabilities. Users can easily create, send, and sign life estate deeds online, ensuring all transactions are secure and compliant. This platform is designed to offer a seamless experience for all document management needs.
airSlate SignNow integrates smoothly with various third-party applications like Google Drive and Microsoft Office, making it easier to manage life estate deeds and related documents. This allows users to streamline their workflow by accessing and sharing documents across different platforms. Enhanced integration capabilities help businesses maintain organization while executing legal documents.
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