This form is a Warranty Deed with a retained Enhanced Life Estate where the Grantor is an individual and the Grantee is an individual. This form is also known as a "Lady Bird" Deed. Grantor conveys the property to Grantee subject to an enhanced retained life estate. The Grantor retains the right to sell, encumber, mortgage or otherwise impair the interest Grantee might receive in the future, without joinder or notice to Grantee, with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
Irving Texas Lady Bird or Enhanced Life Estate Warranty Deed — Individual to Individual A Lady Bird or Enhanced Life Estate Warranty Deed is a legal document used in Irving, Texas, and other jurisdictions, to transfer real estate ownership from one individual to another while providing enhanced protections and benefits to the granter (the individual transferring the property) during their lifetime. This type of deed is commonly used for estate planning purposes and can offer significant advantages, especially for older individuals or those seeking to control the destiny of their property after their passing. In Irving, Texas, there are two main types of Lady Bird or Enhanced Life Estate Warranty Deeds — the Traditional Lady Bird Deed and the Enhanced Life Estate Warranty Deed. While both deeds share some similarities and serve the same purpose, there are some differences that individuals should be aware of before deciding which type best suits their needs. 1. Traditional Lady Bird Deed: The Traditional Lady Bird Deed, also known as a "life estate deed with a power of appointment," allows the granter to maintain a life estate in the property while designating a remainder man (the individual who will inherit the property upon the granter's death). The granter can sell, lease, mortgage, or transfer the property during their lifetime without the consent of the remainder man. This type of deed also offers the flexibility to change the remainder man or revoke the deed entirely. 2. Enhanced Life Estate Warranty Deed: The Enhanced Life Estate Warranty Deed, sometimes referred to as a "super Lady Bird deed," includes additional provisions to protect the granter's interests and avoid potential Medicaid or long-term care estate recovery claims. This deed grants the granter the right to freely transfer the property during their lifetime without the consent of the remainder man, while still maintaining control and protection of the property. It also provides enhanced creditor protection and the ability to avoid probate. Keywords: Irving, Texas, Lady Bird Deed, Enhanced Life Estate Warranty Deed, legal document, real estate ownership, estate planning, advantages, Traditional Lady Bird Deed, power of appointment, remainder man, flexibility, revoke, Enhanced Life Estate Warranty Deed, super Lady Bird deed, Medicaid, long-term care estate recovery claims, transfer, control, protection, creditor protection, probate.Irving Texas Lady Bird or Enhanced Life Estate Warranty Deed — Individual to Individual A Lady Bird or Enhanced Life Estate Warranty Deed is a legal document used in Irving, Texas, and other jurisdictions, to transfer real estate ownership from one individual to another while providing enhanced protections and benefits to the granter (the individual transferring the property) during their lifetime. This type of deed is commonly used for estate planning purposes and can offer significant advantages, especially for older individuals or those seeking to control the destiny of their property after their passing. In Irving, Texas, there are two main types of Lady Bird or Enhanced Life Estate Warranty Deeds — the Traditional Lady Bird Deed and the Enhanced Life Estate Warranty Deed. While both deeds share some similarities and serve the same purpose, there are some differences that individuals should be aware of before deciding which type best suits their needs. 1. Traditional Lady Bird Deed: The Traditional Lady Bird Deed, also known as a "life estate deed with a power of appointment," allows the granter to maintain a life estate in the property while designating a remainder man (the individual who will inherit the property upon the granter's death). The granter can sell, lease, mortgage, or transfer the property during their lifetime without the consent of the remainder man. This type of deed also offers the flexibility to change the remainder man or revoke the deed entirely. 2. Enhanced Life Estate Warranty Deed: The Enhanced Life Estate Warranty Deed, sometimes referred to as a "super Lady Bird deed," includes additional provisions to protect the granter's interests and avoid potential Medicaid or long-term care estate recovery claims. This deed grants the granter the right to freely transfer the property during their lifetime without the consent of the remainder man, while still maintaining control and protection of the property. It also provides enhanced creditor protection and the ability to avoid probate. Keywords: Irving, Texas, Lady Bird Deed, Enhanced Life Estate Warranty Deed, legal document, real estate ownership, estate planning, advantages, Traditional Lady Bird Deed, power of appointment, remainder man, flexibility, revoke, Enhanced Life Estate Warranty Deed, super Lady Bird deed, Medicaid, long-term care estate recovery claims, transfer, control, protection, creditor protection, probate.
