This form is a Quitclaim Deed with retained Enhanced Life Estates where the Grantors are two individuals or husband and wife and the Grantees are two individuals or husband and wife. Grantors convey the property to Grantees subject to an enhanced retained life estate. The Grantors 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 Grantors in order to receive the real property. This deed complies with all state statutory laws.
Riverside California Enhanced Life Estate or Lady Bird Quitclaim Deed is a legal instrument used to transfer property from two individuals, or a husband and wife, to two other individuals, or a different husband and wife, while retaining certain rights and protections for the original owners. This type of deed is often chosen by individuals who wish to protect their property and ensure easy transfer of ownership upon their passing. By executing a Riverside California Enhanced Life Estate or Lady Bird Quitclaim Deed, the original owners, referred to as the granters, convey their property to the new owners, referred to as the grantees, while reserving a life estate for themselves. This means that granters retain the right to live on and enjoy the property for the remainder of their lives. They also maintain control and possessor rights over the property, including the ability to sell, lease, or mortgage the property without the consent of the grantees. However, the Riverside California Enhanced Life Estate or Lady Bird Quitclaim Deed offers additional benefits compared to a traditional life estate deed. It includes a special provision allowing the granters to revoke or change the deed at any time during their lifetime without requiring the grantees' consent. This feature provides flexibility and control over the property, allowing the granters to make changes, add or remove beneficiaries, or even sell the property if they choose to do so. Another distinguishing characteristic of the Riverside California Enhanced Life Estate or Lady Bird Quitclaim Deed is the inclusion of a 'right of survivorship.' This means that upon the passing of one granter, the property automatically transfers in full ownership and control to the surviving granter, without the need for probate. This streamlined transfer process helps to avoid any potential delays, costs, or complications associated with probate proceedings. It ensures a smooth transfer of ownership to the surviving granter while maintaining the protections and rights of the original granters during their lifetime. One alternative version of the Riverside California Enhanced Life Estate or Lady Bird Quitclaim Deed involves transferring the property to the grantees as joint tenants with full rights of survivorship. This means that upon the passing of one granter, their share of the property automatically goes to the surviving granter(s) as joint tenants, rather than the granter's heirs or beneficiaries. This type of deed variation is particularly suitable for married couples, as it ensures the seamless transfer of property to the surviving spouse without the need for probate. In conclusion, Riverside California Enhanced Life Estate or Lady Bird Quitclaim Deeds provide individuals, or husband and wife, with a comprehensive and flexible estate planning tool. It allows for the transfer of property while preserving the granter's lifetime possessor rights, the option to modify or revoke the deed, and the streamlined transfer of ownership upon their passing. The inclusion of a right of survivorship further simplifies the transfer process between spouses, ensuring a smooth transition of property upon death.
