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.
San Bernardino County, located in Southern California, offers several types of enhanced life estate or Lady Bird grant deeds from an individual to three individuals. These legal instruments serve as effective estate planning tools, enabling property owners to transfer assets and rights to beneficiaries while retaining control and benefits during their lifetime. Let's explore the various options available in San Bernardino County: 1. Enhanced Life Estate Deed: An Enhanced Life Estate Deed, commonly known as a Lady Bird Deed, is a type of deed that allows an individual, referred to as the granter, to transfer their property to three individuals, known as grantees, while retaining the right to use and enjoy the property until their death. This deed provides significant benefits as it avoids the probate process, allows for Medicaid planning, and offers protection against potential property claims. 2. Lady Bird Grant Deed: The Lady Bird Grant Deed, named after former First Lady Bird Johnson, is a specific type of Enhanced Life Estate Deed. This instrument allows the granter to maintain full control and rights over the property during their lifetime, including the ability to sell, mortgage, or transfer the property without needing the consent of the grantees. 3. Joint Tenancy with Right of Survivorship: While not technically an Enhanced Life Estate or Lady Bird Grant Deed, Joint Tenancy with Right of Survivorship is another common form of property ownership in San Bernardino County. In this arrangement, three individuals jointly own the property, and if one owner passes away, their ownership interest automatically transfers to the surviving joint tenants, without the need for probate. These various options for Enhanced Life Estate or Lady Bird Grant Deeds provide property owners in San Bernardino County with flexibility in estate planning and asset transfer while maintaining control and benefits during their lifetime. Consulting with a qualified estate planning attorney or a real estate professional specializing in these types of deeds is crucial to ensure that the chosen approach aligns with individual circumstances and goals.San Bernardino County, located in Southern California, offers several types of enhanced life estate or Lady Bird grant deeds from an individual to three individuals. These legal instruments serve as effective estate planning tools, enabling property owners to transfer assets and rights to beneficiaries while retaining control and benefits during their lifetime. Let's explore the various options available in San Bernardino County: 1. Enhanced Life Estate Deed: An Enhanced Life Estate Deed, commonly known as a Lady Bird Deed, is a type of deed that allows an individual, referred to as the granter, to transfer their property to three individuals, known as grantees, while retaining the right to use and enjoy the property until their death. This deed provides significant benefits as it avoids the probate process, allows for Medicaid planning, and offers protection against potential property claims. 2. Lady Bird Grant Deed: The Lady Bird Grant Deed, named after former First Lady Bird Johnson, is a specific type of Enhanced Life Estate Deed. This instrument allows the granter to maintain full control and rights over the property during their lifetime, including the ability to sell, mortgage, or transfer the property without needing the consent of the grantees. 3. Joint Tenancy with Right of Survivorship: While not technically an Enhanced Life Estate or Lady Bird Grant Deed, Joint Tenancy with Right of Survivorship is another common form of property ownership in San Bernardino County. In this arrangement, three individuals jointly own the property, and if one owner passes away, their ownership interest automatically transfers to the surviving joint tenants, without the need for probate. These various options for Enhanced Life Estate or Lady Bird Grant Deeds provide property owners in San Bernardino County with flexibility in estate planning and asset transfer while maintaining control and benefits during their lifetime. Consulting with a qualified estate planning attorney or a real estate professional specializing in these types of deeds is crucial to ensure that the chosen approach aligns with individual circumstances and goals.
