Life Estate vs "Right to Reside"
Posted: Thu Aug 07, 2008 10:34 am
Is there any difference between a Life Estate and "the right to reside in the residence located on the property for her natural life"? I have a Grant Deed with that exact wording in it under grantee along with the grantee who bought the parent property.
We are doing an electrical easement across the parent parcel which is the only description of the property (no meets and bounds description for the "right to reside" property). The assessor shows a half-an-acre parcel around the existing house (the State of California permits assessment of half-an-acre for Life Estates with no description). The easement happens to go thru where the assessor shows the "right to reside" property. The electric company wants the "right to reside" person to sign a separate Easement Deed. At first, the electric company wanted an exhibit that shows her "right to reside" property with the easement going thru it and a legal description of that portion of her "right to reside" property affected by the easement. The electric company and I have since agreed to have her sign a duplicate original of the easement deed that is the parent parcel and does not show her "right to reside" property. The owner of the parent parcel is not sure if he is going to get her to sign it, and he thinks she shouldn't have to, because it is a "right to reside" and not a true Life Estate.
Any comments would be appreciated.
We are doing an electrical easement across the parent parcel which is the only description of the property (no meets and bounds description for the "right to reside" property). The assessor shows a half-an-acre parcel around the existing house (the State of California permits assessment of half-an-acre for Life Estates with no description). The easement happens to go thru where the assessor shows the "right to reside" property. The electric company wants the "right to reside" person to sign a separate Easement Deed. At first, the electric company wanted an exhibit that shows her "right to reside" property with the easement going thru it and a legal description of that portion of her "right to reside" property affected by the easement. The electric company and I have since agreed to have her sign a duplicate original of the easement deed that is the parent parcel and does not show her "right to reside" property. The owner of the parent parcel is not sure if he is going to get her to sign it, and he thinks she shouldn't have to, because it is a "right to reside" and not a true Life Estate.
Any comments would be appreciated.