Document background
A Life Estate Deed is a sophisticated estate planning tool used in Malaysia to create a temporary property interest that lasts for the duration of a person's life, while simultaneously establishing future ownership rights. This document is particularly useful when property owners wish to provide for someone during their lifetime while ensuring the property ultimately passes to specific beneficiaries. The deed must conform to Malaysian legal requirements, particularly the National Land Code 1965, and requires careful drafting to address issues such as maintenance obligations, tax responsibilities, and insurance requirements. Life Estate Deeds are commonly used in family estate planning, particularly when providing for surviving spouses or elderly parents while ensuring the property eventually passes to children or other designated beneficiaries. The document requires proper registration with land authorities and payment of appropriate stamp duties under Malaysian law.
