[WSBARP] What was transferred.
Kary Krismer
Krismer at comcast.net
Wed Nov 16 10:14:05 PST 2022
My only thought is it was possibly intended to deal with the mother's
current marriage, to make it clear the life estate is separate
property. Absent the current husband joining in the deed I doubt it
accomplished that, and if there is a current husband there might be
other concerns if he didn't join in as grantor.
Whatever it means, the transaction should probably be undone and then
done properly, in some way that would minimize possible REET.
Kary L. Krismer
206 723-2148
On 11/16/2022 9:46 AM, Jeff at bellanddavispllc.com wrote:
>
> This has to be a law school question. Mom transfers her real property
> to her children, reserving in herself a life estate. The Bargain and
> Sale Deed goes onto to say:
>
> “Further Reserving unto Grantor for Grantor’s life the full power and
> right, in Grantor’s absolute discretion, by her act and signature
> alone to sell, convey, lease, mortgage, encumber or otherwise to
> manage and dispose of the Property, or any portion thereof, and the
> proceeds therefrom, to the same extent and in the same manner that
> Grantor would enjoy if the Property were Grantor’s sole and separate
> property.”
>
> Seems to me nothing was transferred; It seems like a weird type of
> transfer on death deed. Your thoughts.
>
> Jeff Davis
>
> *W. Jeff Davis*
>
> *BELL & DAVIS PLLC*
>
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>
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> email: jeff at bellanddavispllc.com <mailto:jeff at bellanddavispllc.com>
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