What is a Life Estate Deed in New York

What is a life estate deed in New York? It’s a deed where a person has a life estate, meaning that they own the property while they are alive. Only when they are alive. Their interested terminates at their death. Meaning, no one will be able to inherit the property from them. Instead, the other person on the deed, the one with the remainder interest, takes over the ownership of the property.


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