I am the owner of some land and property. I the GRANTOR have given my mother the GRANTEE "life estate" to this land and property with a remainder to me. It is worded as follows: (excerpt from deed)
"the GRANTOR hereby bargains, sells, grants and convey unto the GRANTEE, a Life Estate with a remainder to the Grantor"...
*** So here's my question; I thought this is called a "estate in reversion" not an "estate in remainder". Can they co-exist?
I guess it might just be the wording of the deed and the legalees of my state, but everything I reed about life estates and future interest suggest that a remainder is a future interest holder other than the person who orinionally gave someone life estate. I mean in context, I suppose even with the way my deed was worded that it is still understood as an Estate in Reversion simply because I owned it first and gave my mother life estate and it reverts back to me or as the deed suggest I just receive the remainder. Just a little confusing.
2006-11-08
01:38:43
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2 answers
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asked by
Pandora
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Business & Finance
➔ Renting & Real Estate