Legal Question in Real Estate Law in Ohio
Life Estate
Want information on transfer of property while retaining life estate. Looking for life estate deed form. Is transfer retaining life estate legal in Ohio? Want to transfer property to child and retain life estate for parent so parent has rights to live on or have income from property during lifetime then remainder of property passes to child.
2 Answers from Attorneys
Re: Life Estate
A life estate is legal or you may want to consider a transfer on death deed. They are brand new. I would contact an attorney to make sure you do what is just right for your situation.
Re: Life Estate
My understanding is that Ohio law does recognize a life estate in property and that what you are proposing to do is legal in Ohio. I do not have the form you are looking for handy but could look into it further for you if nobody else is able to help you.