Life Estate Deed
This Deed is made on this day of _______________, 20__, between the Grantor _________________________ of address
and the Grantee _________________________ of address
WITNESSETH, That the Grantor, for good and valuable consideration paid by the Grantee, the receipt of which is hereby acknowledged, does grant, sell and convey unto the said Grantee, all the rights, title, interest, claim or demand that the Grantor may have in the following described real property:
EXPRESSLY RESERVING Life Estate in the above described property unto the Grantor and its assigns. The Grantor shall have full ownership, possession and use of the property, as well as the rents, revenues and profits generated by the property during the term of the Grantor's natural life.
Upon the expiration of the Grantor's natural life, the ownership, possession, use, rents, revenues and profits of the above described property shall revert to the Grantee.
EXECUTED this day of _______________, 20__.
Grantor Name: _________________________
Grantor Signature: _________________________
STATE OF _________________________
COUNTY OF _________________________
On this day, personally appeared before me, _________________________, to me known to be the person(s) described in and who executed the within instrument, and acknowledged that he/she signed the same as his/her voluntary act and deed, for the uses and purposes therein mentioned.
Witness my hand and official seal hereto affixed on this day of _______________, 20__.
Notary's Public Signature: _________________________
My commission expires _______________.
The gift tax exemption is $5,450, 000 for your lifetime so no federal taxes here.You would file death certificate in the deed records when she passes to complete chain of title.Thats it after you record the life estate deed.
You get the property description here from the deed where they bought it.You can get a copy of that deed from county deed records if you need it .
Thanks again for letting me help you.