Escrow & Title
Which type of deed would a grantor use to convey property while retaining a life estate?
AWarranty deed with reservation✓ Correct
BQuitclaim deed with right of first refusal
CSheriff's deed
DAdministrator's deed
Explanation
A grantor can use a warranty deed with a reservation clause to convey property to a grantee while retaining a life estate (right to use the property for their lifetime).
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Key Terms to Know
Deed
A written legal instrument used to transfer ownership of real property from one party (grantor) to another (grantee).
Right of First RefusalA contractual right giving a party the opportunity to match any offer received before the owner can accept it from a third party.
Life EstateA freehold interest in real property that lasts only for the duration of a specified person's life.
EasementA non-possessory right to use another person's land for a specific purpose.
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