This form is a Grant Deed with a retained Enhanced Life Estate where the Grantor is an individual and the Grantees are three individuals. Grantor conveys the property to Grantees subject to an enhanced retained life estate. The Grantor 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 Grantor in order to receive the real property. This deed complies with all state statutory laws.
Concord California Enhanced Life Estate or Lady Bird Grant Deed from an Individual to Three Individuals In Concord, California, an Enhanced Life Estate or Lady Bird Grant Deed is a legal instrument utilized to transfer property from an individual (granter) to three other individuals (grantees), while retaining certain rights and benefits during the granter's lifetime. This unique form of deed is named after Lady Bird Johnson, the wife of former U.S. President Lyndon B. Johnson, who reportedly used this type of transaction to transfer property to their children. An Enhanced Life Estate Deed, commonly referred to as the Lady Bird Grant Deed, provides flexibility and specific advantages to the granter, the grantees, and their estate planning. By executing such a deed, the granter transfers ownership of the property to the three grantees, but maintains control and ownership rights during their lifetime, such as the ability to sell, transfer, or mortgage the property without requiring the consent of the grantees. This type of deed offers several benefits, including avoiding probate, potential estate tax reduction, and Medicaid planning advantages. The enhanced life estate can also help protect the property from being subject to a Medical recovery claim after the granter's death. There are different variations of Concord California Enhanced Life Estate or Lady Bird Grant Deed from an Individual to Three Individuals, depending on the specific needs and circumstances of the involved parties: 1. Enhanced Life Estate Deed with Right to Revoke: This variant allows the granter to maintain the power to revoke or cancel the deed during their lifetime, thereby regaining full ownership and control over the property. 2. Enhanced Life Estate Deed with Right to Sell: In this variant, the granter has the freedom to sell the property at any time during their lifetime, while the grantees are entitled to a share of the proceeds upon the sale. 3. Enhanced Life Estate Deed with Right to Occupancy: This variation permits the granter to maintain the right to live in or occupy the property for the remainder of their life, despite having transferred ownership to the grantees. This ensures that the granter has a secure place of residence until their passing. It is important to consult with a qualified estate planning attorney or legal professional when considering a Concord California Enhanced Life Estate or Lady Bird Grant Deed. Each variant of these deeds has specific legal implications, and professional guidance can help ensure that the deed is properly executed and aligned with the granter's desires and intentions.Concord California Enhanced Life Estate or Lady Bird Grant Deed from an Individual to Three Individuals In Concord, California, an Enhanced Life Estate or Lady Bird Grant Deed is a legal instrument utilized to transfer property from an individual (granter) to three other individuals (grantees), while retaining certain rights and benefits during the granter's lifetime. This unique form of deed is named after Lady Bird Johnson, the wife of former U.S. President Lyndon B. Johnson, who reportedly used this type of transaction to transfer property to their children. An Enhanced Life Estate Deed, commonly referred to as the Lady Bird Grant Deed, provides flexibility and specific advantages to the granter, the grantees, and their estate planning. By executing such a deed, the granter transfers ownership of the property to the three grantees, but maintains control and ownership rights during their lifetime, such as the ability to sell, transfer, or mortgage the property without requiring the consent of the grantees. This type of deed offers several benefits, including avoiding probate, potential estate tax reduction, and Medicaid planning advantages. The enhanced life estate can also help protect the property from being subject to a Medical recovery claim after the granter's death. There are different variations of Concord California Enhanced Life Estate or Lady Bird Grant Deed from an Individual to Three Individuals, depending on the specific needs and circumstances of the involved parties: 1. Enhanced Life Estate Deed with Right to Revoke: This variant allows the granter to maintain the power to revoke or cancel the deed during their lifetime, thereby regaining full ownership and control over the property. 2. Enhanced Life Estate Deed with Right to Sell: In this variant, the granter has the freedom to sell the property at any time during their lifetime, while the grantees are entitled to a share of the proceeds upon the sale. 3. Enhanced Life Estate Deed with Right to Occupancy: This variation permits the granter to maintain the right to live in or occupy the property for the remainder of their life, despite having transferred ownership to the grantees. This ensures that the granter has a secure place of residence until their passing. It is important to consult with a qualified estate planning attorney or legal professional when considering a Concord California Enhanced Life Estate or Lady Bird Grant Deed. Each variant of these deeds has specific legal implications, and professional guidance can help ensure that the deed is properly executed and aligned with the granter's desires and intentions.
