This form is a Quitclaim Deed with retained Enhanced Life Estates where the Grantors are two individuals or husband and wife and the Grantees are two individuals or husband and wife. Grantors convey the property to Grantees subject to an enhanced retained life estate. The Grantors retains the right to sell, encumber, mortgage or otherwise impair the interest Grantees might receive in the future, without joinder or notice to Grantees, with the exception of the right to transfer the property by will. Grantees are required to survive the Grantors in order to receive the real property. This deed complies with all state statutory laws.
A Long Beach California Enhanced Life Estate or Lady Bird Quitclaim Deed from Two Individuals, or Husband and Wife, is a legal document that allows individuals who are married or in a domestic partnership to transfer their property rights to another married couple or domestic partners, while retaining the right to live on the property for the duration of their lives. This type of deed provides specific advantages and protection to the granters, making it an appealing option for estate planning purposes. The Enhanced Life Estate Deed, also known as a Lady Bird Deed, gets its name from Lady Bird Johnson, the former First Lady of the United States, as it was popularized in Texas during her tenure. The deed allows the granters to retain control of their property during their lifetime and have the ability to sell, mortgage, or otherwise dispose of the property without the consent of the grantees. Some key features of the Long Beach California Enhanced Life Estate or Lady Bird Quitclaim Deed are the granters' ability to: 1. Retain ownership and control of the property during their lifetime. 2. Live on the property without interference from the grantees. 3. Sell, convey, or mortgage the property without the grantees' consent. 4. Avoid probate and the associated costs and delays after the granters' deaths. 5. Protect the property from potential Medicaid estate recovery. There are variations of the Enhanced Life Estate Deed depending on the specific circumstances and objectives of the granters. These variations include: 1. Traditional Enhanced Life Estate Deed: This deed allows the granters to transfer their property to the grantees, while reserving a life estate for themselves. The granters retain the right to occupy and enjoy the property during their lifetime. 2. Joint Enhanced Life Estate Deed: This version of the deed is applicable when two individuals, either husband and wife or domestic partners, want to transfer their property to another couple in a joint manner. It ensures that both spouses or domestic partners retain the right to live on the property until the death of the survivor. 3. Revocable Enhanced Life Estate Deed: This type of deed provides the granters with the option to modify or revoke the enhanced life estate rights during their lifetime, giving them flexibility and control. In conclusion, the Long Beach California Enhanced Life Estate or Lady Bird Quitclaim Deed from Two Individuals, or Husband and Wife, is a valuable tool for estate planning in which property owners can transfer their property to another couple while retaining the right to live on the property. Different variations of the Enhanced Life Estate Deed cater to various scenarios and objectives, providing flexibility and control to the granters.A Long Beach California Enhanced Life Estate or Lady Bird Quitclaim Deed from Two Individuals, or Husband and Wife, is a legal document that allows individuals who are married or in a domestic partnership to transfer their property rights to another married couple or domestic partners, while retaining the right to live on the property for the duration of their lives. This type of deed provides specific advantages and protection to the granters, making it an appealing option for estate planning purposes. The Enhanced Life Estate Deed, also known as a Lady Bird Deed, gets its name from Lady Bird Johnson, the former First Lady of the United States, as it was popularized in Texas during her tenure. The deed allows the granters to retain control of their property during their lifetime and have the ability to sell, mortgage, or otherwise dispose of the property without the consent of the grantees. Some key features of the Long Beach California Enhanced Life Estate or Lady Bird Quitclaim Deed are the granters' ability to: 1. Retain ownership and control of the property during their lifetime. 2. Live on the property without interference from the grantees. 3. Sell, convey, or mortgage the property without the grantees' consent. 4. Avoid probate and the associated costs and delays after the granters' deaths. 5. Protect the property from potential Medicaid estate recovery. There are variations of the Enhanced Life Estate Deed depending on the specific circumstances and objectives of the granters. These variations include: 1. Traditional Enhanced Life Estate Deed: This deed allows the granters to transfer their property to the grantees, while reserving a life estate for themselves. The granters retain the right to occupy and enjoy the property during their lifetime. 2. Joint Enhanced Life Estate Deed: This version of the deed is applicable when two individuals, either husband and wife or domestic partners, want to transfer their property to another couple in a joint manner. It ensures that both spouses or domestic partners retain the right to live on the property until the death of the survivor. 3. Revocable Enhanced Life Estate Deed: This type of deed provides the granters with the option to modify or revoke the enhanced life estate rights during their lifetime, giving them flexibility and control. In conclusion, the Long Beach California Enhanced Life Estate or Lady Bird Quitclaim Deed from Two Individuals, or Husband and Wife, is a valuable tool for estate planning in which property owners can transfer their property to another couple while retaining the right to live on the property. Different variations of the Enhanced Life Estate Deed cater to various scenarios and objectives, providing flexibility and control to the granters.
