Warranty Deed for Parents to Child with Reservation of Life Estate - Illinois: Fill out & sign online

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Who are remainder beneficiaries?

A remainder beneficiary is a beneficiary of a trust whose benefit vests at a later time. As an example, I may receive income for life and only upon my death what is left of the corpus of the trust goes to my son. I am the income beneficiary and my son is the remainder beneficiary.

How do I transfer a title after death of life estate tenant in Texas?

Upon your death, all that is required for full title to be transferred to your beneficiaries is the filing of an affidavit in the county property records reflecting the date of your death, referring to the recording information for the Lady Bird Deed, and reciting that there are no outstanding debts of the estate, or

Can there be more than one remainderman?

A remainderman is a beneficiary in a life estate who will inherit property after the life tenants death. There can be more than one remainderman if you divide the property.

What is a warranty deed Illinois statutory?

An Illinois statutory warranty deed allows the conveying of property from one person (grantor) to another (grantee). The deed is the grantors promise that there is no one else who can make a claim on the title but does not promise any defects against that title prior to their ownership.

What is necessary for a deed to be recorded in Illinois?

For the purpose of recording the document, your document must meet all of the recording requirements (the document has to have the property tax number, address, legal description and preparers name and address, with signatures/notary. For recording you must provide the original plus one copy.

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