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The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).
The University of Santo Tomas Baybayin Documents or UST Baybayin Documents are two 17th century land deeds written in Baybayin script.. Due to their historical significance, the documents were declared as a National Cultural Treasure by the National Archives of the Philippines Director Victorino Manalo during the Second Baybayin Conference at the Museum of the Filipino People, Manila on 22 ...
An enhanced life estate deed or “Lady Bird” deed is a nuanced estate planning tool that allows the original owner of a property to retain control of it while they’re alive but automatically ...
A ladybird deed is a life estate deed that allows for the transfer of property during someone's lifetime without requiring the original owner to give up control of the property. Once the person ...
Estate Planning Guide appeared first on SmartAsset Blog. It is possible, and sometimes advisable, to avoid probate. With the help of an estate planner and, perhaps, an attorney, you can learn how ...
In the case of real estate, the legal instrument used to transfer title from one person or entity to another is via the deed. A famous rule is that a thief cannot convey good title, so title searches are routine (or highly recommended) for purchases of many types of expensive property (especially real estate).
The rule against perpetuities serves a number of purposes. First, English courts have long recognized that allowing owners to attach long-lasting contingencies to their property harms the ability of future generations to freely buy and sell the property, since few people would be willing to buy property that had unresolved issues regarding its ownership hanging over it.