This form is a Grant 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.
The Long Beach California Enhanced Life Estate, also commonly known as the Lady Bird Grant Deed, is a type of legal instrument used in real estate transactions. Specifically, it is a deed that transfers ownership of a property from two individuals, typically husband and wife, to another set of individuals, also typically husband and wife. The Enhanced Life Estate or Lady Bird Grant Deed allows the original owners to retain control and use of the property during their lifetime while preserving the ability to transfer the property to the second set of individuals upon their deaths. One of the key features of the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is that it includes a provision known as the "enhanced life estate interest." This means that the original owners can retain exclusive rights to use and enjoy the property during their lifetime, including the ability to sell, lease, or mortgage it without the consent of the second set of individuals. This enhanced life estate interest distinguishes this type of deed from a traditional life estate, where certain restrictions on the original owner's rights may apply. Another important aspect of the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is that it includes a transfer-on-death provision. This provision allows the property to automatically transfer to the second set of individuals upon the death of the original owners, without the need for probate proceedings. This can streamline the transfer process and potentially save time and money for the beneficiaries. It's worth noting that the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is just one variation of the Enhanced Life Estate Deed. The Lady Bird Grant Deed is sometimes referred to as such due to its association with former First Lady, Lady Bird Johnson, who reportedly used a similar type of deed for her own estate planning purposes. While the Lady Bird Grant Deed is not specific to Long Beach, California, it is recognized and commonly used in the state. In conclusion, the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is a legal instrument that allows for the transfer of property from one set of individuals, typically husband and wife, to another set of individuals, also typically husband and wife. It provides the original owners with an enhanced life estate interest, allowing them to retain control and use of the property during their lifetime, while simplifying the transfer process upon their death.The Long Beach California Enhanced Life Estate, also commonly known as the Lady Bird Grant Deed, is a type of legal instrument used in real estate transactions. Specifically, it is a deed that transfers ownership of a property from two individuals, typically husband and wife, to another set of individuals, also typically husband and wife. The Enhanced Life Estate or Lady Bird Grant Deed allows the original owners to retain control and use of the property during their lifetime while preserving the ability to transfer the property to the second set of individuals upon their deaths. One of the key features of the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is that it includes a provision known as the "enhanced life estate interest." This means that the original owners can retain exclusive rights to use and enjoy the property during their lifetime, including the ability to sell, lease, or mortgage it without the consent of the second set of individuals. This enhanced life estate interest distinguishes this type of deed from a traditional life estate, where certain restrictions on the original owner's rights may apply. Another important aspect of the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is that it includes a transfer-on-death provision. This provision allows the property to automatically transfer to the second set of individuals upon the death of the original owners, without the need for probate proceedings. This can streamline the transfer process and potentially save time and money for the beneficiaries. It's worth noting that the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is just one variation of the Enhanced Life Estate Deed. The Lady Bird Grant Deed is sometimes referred to as such due to its association with former First Lady, Lady Bird Johnson, who reportedly used a similar type of deed for her own estate planning purposes. While the Lady Bird Grant Deed is not specific to Long Beach, California, it is recognized and commonly used in the state. In conclusion, the Long Beach California Enhanced Life Estate or Lady Bird Grant Deed is a legal instrument that allows for the transfer of property from one set of individuals, typically husband and wife, to another set of individuals, also typically husband and wife. It provides the original owners with an enhanced life estate interest, allowing them to retain control and use of the property during their lifetime, while simplifying the transfer process upon their death.
