This form is an Enhanced Life Estate Deed where the Grantor is an Individual and the Grantee is an individual. Grantor conveys the property to Grantee subject to a retained life estate. Further, the Grantor retains the right to sell, encumber, mortgage or otherwise impair the interest Grantee might receive in the future with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
A Miami-Dade Enhanced Life Estate Deed, also known as a Lady Bird Deed or an Enhanced Life Estate Deed — Individual to Individual, is a type of real estate deed that enables property owners to transfer ownership interests while retaining control and the right to occupy the property during their lifetime. This legal document has gained popularity in Miami-Dade County, Florida, due to its unique features and benefits. The Lady Bird Deed gets its name from the involvement of former First Lady, Lady Bird Johnson, in its creation. It offers several advantages to property owners, including avoiding probate, protecting Medicaid eligibility, and allowing for the seamless transfer of property upon the granter's death. In this type of deed, the granter retains a life estate in the property, meaning they have the right to reside on and use the property for the duration of their life. They can also sell, mortgage, or even gift the property without obtaining the consent of the remainder beneficiaries named in the deed. The remainder beneficiaries only gain ownership of the property upon the granter's death. It's important to note that there are different versions of the Miami-Dade Enhanced Life Estate Deed or Lady Bird Deed, specifically tailored to individual-to-individual transactions. These types include: 1. Enhanced Life Estate Deed — Individual to Spouse: This deed is used when a property owner wants to transfer their property directly to their spouse while retaining a life estate. 2. Enhanced Life Estate Deed — Individual to Child or Children: This version is utilized when a property owner wants to transfer their property directly to their child or children, with themselves retaining the life estate. 3. Enhanced Life Estate Deed — Individual to Others: This deed variation allows the property owner to transfer their property directly to individuals other than a spouse or child, while maintaining a life estate. These various options provide flexibility for property owners to choose the appropriate deed best suited for their specific circumstances and desired beneficiaries. When considering a Miami-Dade Enhanced Life Estate Deed or Lady Bird Deed — Individual to Individual, it is advised to consult with an experienced real estate attorney who can explain the legal intricacies, benefits, and potential drawbacks associated with this type of property transfer. Understanding the key terms and implications ensures a smooth and secure transfer, while protecting the rights and interests of all parties involved.A Miami-Dade Enhanced Life Estate Deed, also known as a Lady Bird Deed or an Enhanced Life Estate Deed — Individual to Individual, is a type of real estate deed that enables property owners to transfer ownership interests while retaining control and the right to occupy the property during their lifetime. This legal document has gained popularity in Miami-Dade County, Florida, due to its unique features and benefits. The Lady Bird Deed gets its name from the involvement of former First Lady, Lady Bird Johnson, in its creation. It offers several advantages to property owners, including avoiding probate, protecting Medicaid eligibility, and allowing for the seamless transfer of property upon the granter's death. In this type of deed, the granter retains a life estate in the property, meaning they have the right to reside on and use the property for the duration of their life. They can also sell, mortgage, or even gift the property without obtaining the consent of the remainder beneficiaries named in the deed. The remainder beneficiaries only gain ownership of the property upon the granter's death. It's important to note that there are different versions of the Miami-Dade Enhanced Life Estate Deed or Lady Bird Deed, specifically tailored to individual-to-individual transactions. These types include: 1. Enhanced Life Estate Deed — Individual to Spouse: This deed is used when a property owner wants to transfer their property directly to their spouse while retaining a life estate. 2. Enhanced Life Estate Deed — Individual to Child or Children: This version is utilized when a property owner wants to transfer their property directly to their child or children, with themselves retaining the life estate. 3. Enhanced Life Estate Deed — Individual to Others: This deed variation allows the property owner to transfer their property directly to individuals other than a spouse or child, while maintaining a life estate. These various options provide flexibility for property owners to choose the appropriate deed best suited for their specific circumstances and desired beneficiaries. When considering a Miami-Dade Enhanced Life Estate Deed or Lady Bird Deed — Individual to Individual, it is advised to consult with an experienced real estate attorney who can explain the legal intricacies, benefits, and potential drawbacks associated with this type of property transfer. Understanding the key terms and implications ensures a smooth and secure transfer, while protecting the rights and interests of all parties involved.
