Article on Farmers Looking to Take Back What’s Theirs

Brody Swanson recently published an Article entitled, Allowing Farmers to “Take Back” What’s Theirs: Adoption of the Revocable Life Estate Deed, 21 Drake J. Agri. L. 409 (2016). Provided below is an abstract of the Article:

Deeds come in many different shapes and sizes. They are generally used to transfer one’s interest in real property but may also be a useful tool to transfer interest in personal property. This Note singles out one type of deed, the life estate deed, and proposes that Iowa, along with similar farm states, joins in adopting the revocable life estate deed. Superficially, carrying out a successful deed seems relatively simple, but in order for a deed to go into effect, there are certain prerequisites that must be met to satisfy the deeds validity. Typically, a valid deed must include: (1) a detailed description of the property being transferred, (2) the name of the party who receives the property, and (3) the signature of the transferring party signed in the presence of the notary. A deed is used as an instrument to convey ownership of real property and has been defined as “[a] written instrument, which has been signed and delivered, by which one individual, the grantor, conveys title to real property to another individual, the grantee; a conveyance of land, tenements, or hereditaments, from one individual to another.” In Iowa, a grantor “includes but is not limited to, a seller, mortgagor, borrower, assignor, lessor, or affiant,” and a grantee “includes but is not limited to a buyer, mortgagee, lender, assignee, lessee, or party to an affidavit who is not the affiant.” To understand the necessity for adopting the revocable life estate deed, this Note will provide a thorough explanation of the present life estate deed, the problems regarding the transfer of property, and the advantages and disadvantages of adopting the deed.