This form is an Enhanced Life Estate Deed where the Grantor is an individual and the Grantees are three individuals. Grantor conveys the property to Grantees subject to a retained enhanced life estate. Further, the Grantor retains for life the right to sell, encumber, mortgage or otherwise impair the interest Grantees 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.
Coral Springs Florida Enhanced Life Estate or Lady Bird Deed — An Individual to Three Individuals is a legal instrument used in estate planning to transfer real property while retaining control and ownership until the original owner's death. This type of deed offers certain benefits, such as avoiding probate, protecting the property from Medicaid recovery, and allowing the granter to maintain control of the property during their lifetime. There are different types of Enhanced Life Estate or Lady Bird Deeds commonly used in Coral Springs, Florida, including: 1. Enhanced Life Estate Deed: This deed allows the granter to retain complete control and ownership of the property during their lifetime, including the right to sell, mortgage, or lease the property without the consent of the beneficiaries mentioned in the deed. The beneficiaries only gain ownership of the property upon the granter's death, avoiding the need for probate. 2. Lady Bird Deed: Named after former First Lady, Lady Bird Johnson, this type of deed is similar to an Enhanced Life Estate Deed but includes an additional provision that allows the granter to reserve a life estate with powers, such as the ability to change beneficiaries or revoke the deed entirely. This deed provides extra flexibility for the granter while still avoiding probate. 3. Individual to Three Individuals: This variation of the Enhanced Life Estate or Lady Bird Deed involves the transfer of property from an individual (the granter) to three different individuals (the beneficiaries) simultaneously. The granter retains control and ownership of the property until their death, after which the three beneficiaries become the new owners in equal shares. Overall, Coral Springs Florida Enhanced Life Estate or Lady Bird Deed — An Individual to Three Individuals offers a strategic estate planning tool for individuals who wish to transfer property while maintaining control and avoiding the probate process. It is essential to consult with a qualified attorney when considering such deeds to ensure compliance with local laws and maximize the benefits derived from this type of arrangement.Coral Springs Florida Enhanced Life Estate or Lady Bird Deed — An Individual to Three Individuals is a legal instrument used in estate planning to transfer real property while retaining control and ownership until the original owner's death. This type of deed offers certain benefits, such as avoiding probate, protecting the property from Medicaid recovery, and allowing the granter to maintain control of the property during their lifetime. There are different types of Enhanced Life Estate or Lady Bird Deeds commonly used in Coral Springs, Florida, including: 1. Enhanced Life Estate Deed: This deed allows the granter to retain complete control and ownership of the property during their lifetime, including the right to sell, mortgage, or lease the property without the consent of the beneficiaries mentioned in the deed. The beneficiaries only gain ownership of the property upon the granter's death, avoiding the need for probate. 2. Lady Bird Deed: Named after former First Lady, Lady Bird Johnson, this type of deed is similar to an Enhanced Life Estate Deed but includes an additional provision that allows the granter to reserve a life estate with powers, such as the ability to change beneficiaries or revoke the deed entirely. This deed provides extra flexibility for the granter while still avoiding probate. 3. Individual to Three Individuals: This variation of the Enhanced Life Estate or Lady Bird Deed involves the transfer of property from an individual (the granter) to three different individuals (the beneficiaries) simultaneously. The granter retains control and ownership of the property until their death, after which the three beneficiaries become the new owners in equal shares. Overall, Coral Springs Florida Enhanced Life Estate or Lady Bird Deed — An Individual to Three Individuals offers a strategic estate planning tool for individuals who wish to transfer property while maintaining control and avoiding the probate process. It is essential to consult with a qualified attorney when considering such deeds to ensure compliance with local laws and maximize the benefits derived from this type of arrangement.
