Lifetime residency prevents sale of home?

[Joseph Bass]

I'm talking with a motivated seller in chattanooga tn and there are some terms on the quitclaim deed he showed me that I've never seen before. It says its a quitclaim from mom to her son and grandson with "a lifetime residency clause that prevents the sell of the home and the use as collateral or business transaction" can anyone shed light on this? Am I dead in the water? Its great deal so maybe too good to be true? Thanks in advance!!

[Wayne Brooks]

It is usually a deed granting a Life Estate to the mother.....she gets to live there for free (she usually pays the property taxes)  until her death..