Life Estate

[jj2tall]

What is the name of your state (only U.S. law)? Michigan

Hello,

Does a Quit-Claim Deed with a life estate clause for the grantors written into it function the same as an actual Life Estate Deed and/or Lady Bird Deed?

Thank you so much for your time.

 

[justalayman]

If the grantors are the actual owners of the property, yes. If they are not the actual owners, then no, it cannot create something from an interest that doesn't exist.

A lady bird deed is greatly different than a deed with a simple reserved life estate. Lady bird deeds act more as a revocable trust in their actions.

 

[jj2tall]

If the grantors are the actual owners of the property, yes. If they are not the actual owners, then no, it cannot create something from an interest that doesn't exist.

A lady bird deed is greatly different than a deed with a simple reserved life estate. Lady bird deeds act more as a revocable trust in their actions.

Thank you.