Posted on: 30th Mar, 2009 04:29 pm
live in was transferred to me with my parents being as life estate interest only...if the property i live in was transferred to me with my parents being as life estate interest only what type of title is it ex: joint tenants with right of survivorship, individual etc??
Hi Directservice,
Your parents have transferred the property to you through a quitclaim deed with the life estate clause. Presently, you are owner of the property and your parents can stay on the property until death. On their death, you would be the sole owner of the property. You do not need to go for a probate. No, this is not a joint tenancy with right to survivorship.
Thanks
Your parents have transferred the property to you through a quitclaim deed with the life estate clause. Presently, you are owner of the property and your parents can stay on the property until death. On their death, you would be the sole owner of the property. You do not need to go for a probate. No, this is not a joint tenancy with right to survivorship.
Thanks