Q: Is Joint Tenancy Warranty Deed same as a Life Estate Deed with verbiage reference living in house their natural lives?
Oklahoma mother and father signed Joint Tenancy Warranty Deed to house to 3 sons with verbiage that allows them, the parents, to live in the house for the rest of their natural lives. Is this considered the same as a Life Estate Deed?
A: It sounds like a life estate in the parents (with right of survivorship) and the remainder to the 3 sons. An attorney would need to see the Deed to determine if it does, in fact establish a life estate and a remainder and to confirm that it is valid.
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