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A Life Estate Deed is a form related to real estate. It will be used to transfer a property. This form is used to transfer property from one individual, the owner of the property, to another party known as the life tenant.
When property is transferred using a Life Estate Deed, the life tenant will be entitled to the property for the remainder of their life. After their death, the property will then revert ownership back to the original party or another agreed upon party. These parties would then be known as the 'remainderman'. Laws surrounding a Life Estate Deed and this type of property transfer may vary from state to state.
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