Estates in Real Property

SECTION 34-4-2.1

§ 34-4-2.1. Reservation of life estate with enhanced powers.

A grantor may convey title to real estate and reserve a life estate therein, coupled with the reserved power and authority, during his or her lifetime, to sell, convey, mortgage, or otherwise dispose of the real property without the consent or joinder by the holder(s) of the remainder interest. A duly-executed conveyance by the life tenant exercising such reserved powers shall, upon recording, vest good title to the interest conveyed in the grantee thereof, free and clear of any right, title and interest of the holder(s) of the remainder interest without the necessity of any additional conveyance by any such holder(s) of the remainder interest.

History of Section.
(P.L. 2014, ch. 145, art. 19, § 1.)