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A property owner can reserve a life estate and grant a remainder interest giving the remainderman possession when the owner diesallowing the property to bypass probate. South Carolina does not recognize transfer-on-death (TOD) deeds.
If a couple has a life estate and one spouse dies, the remaining spouse is the sole owner of the life estate. When the remaining spouse dies, the person holding the remainder interest then has the right to possess and use the property.
Transfer-on-Death Deeds for Real Estate South Carolina does not allow real estate to be transferred with transfer-on-death deeds.
Alabama only has one: The life estate deed. Life estate deeds involve co-ownership of real estate, but each class of joint owners has possession rights at different points in time. The person who owns the property during his or her life is called a life tenant.
Life Estates are used in Mississippi on a regular basis. A life estate allows for a person to transfer property, but reserve their rights in the property before their death.

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Life Estates are simple and inexpensive to establish; merely requiring that a new Deed be recorded. Life Estates avoid probate; the property automatically transfers to your heirs upon the death of the last surviving Life Tenant. Transferring title following your death is a simple, quick process.
An interest in land that lasts only for the life of the holder. Thus, the holder of a life estate cannot leave the land to anyone in their will, because their interest in the land does not survive the person.
Mississippi now allows you to leave real estate with transfer-on-death deeds, also called beneficiary deeds. You sign and record the deed now, but it doesnt take effect until your death. You can revoke the deed or sell the property at any time; the beneficiary you name on the deed has no rights until your death.
A life estate is a form of joint ownership that allows one. person to remain in a house until his or her death, at which time it passes to the other. owner, referred to as the person with the remainder interest.
The owner of the life estate is known as a life tenant. When the life tenant dies, the real property in the life estate is usually transferred to the remainderman who is also typically named in the life estate agreement.

Related links

Property

Warranty Deed: A deed in which the grantor guarantees to the grantee that the grantor has valid, clear title to the property conveyed in the deed.

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AB 724 Assembly Bill - Bill Analysis

Revocable TOD Deed: execution, form, warranty of title AB 724 would create Revocable TOD deed with life estate In AB 12 and AB 250, statutory forms were

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Deed vs. Title - Difference Wiki

Some of the common deeds comprise special warranty deed, special purpose, and general warranty deed among others. The deed is a sensitive document.

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