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A Montana general warranty deed is used to legally convey real estate in Montana from one person to another. Warranty deeds are the sellers guarantee that the property is free and clear of any title defects and that he or she has the legal authority to sell the property.
Life estate cons Theres no creditor protection for the remainderman. Since they own an interest in the property, if theyre sued or owe a debt, the creditors can place a lien on the property. You cant minimize estate tax. The propertys fair market value is included in the life tenants taxable estate once they die.
by Practical Law Real Estate. A deed transferring title and legal interest in real property from the grantor to the grantee with full covenants and warranties.
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
The one-third life estate applies to all land your wife owned, and if she had owned a working ranch, for instance, you would be entitled to one-third of the income it generates. But a home typically earns no income.
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A Montana special warranty deed is a document that allows for the legal transference of real estate. The person selling the property is generally known as the grantor, while the person purchasing the property is known as the grantee.
A property owner who signs and records a Montana warranty deed transfers real estate with complete warranty of title. The current owner guarantees that the new owner will receive a clear, undisputed titlesubject only to exceptions listed in the deed.
The grantor must sign a quitclaim deed and acknowledge it before a notary public. The grantor then records the deed with the Clerk and Recorder in the county where the real property is located. Recording a quitclaim deed provides notice to all subsequent mortgagees and purchasers there is a new owner of the property.
The county clerk and recorders office for each Montana county is responsible for maintaining the countys land records. The new owner or other person who wishes to record a Montana deed submits the original deed to the county clerk and recorders office for the county where the property is located.
During the term of the life tenancy, life tenants have the duty to pay for utilities, expenses necessary to maintain the property in good condition, property taxes, and interest on the mortgage (the principal is owed by the remainderman).

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