This form is a Grant 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.
The Antioch California Enhanced Life Estate, also known as the Lady Bird Grant Deed, is a legal instrument used in real estate transactions. It allows two individuals, typically a husband and wife, to transfer their property to another set of individuals, while retaining certain rights and benefits during their lifetime. This type of deed offers several advantages for individuals seeking to transfer their property while still maintaining control and security. The key feature of the Antioch California Enhanced Life Estate is that the granting individuals (granters) reserve a life estate, which means they retain the right to reside on and use the property until their passing. This ensures their continued enjoyment of the property. However, the Enhanced Life Estate goes beyond a traditional life estate by granting the granters the power to sell, mortgage, or lease the property without seeking consent from the individuals who received the property (grantees). This element of control is what distinguishes the Lady Bird Grant Deed from other traditional life estate deeds. Furthermore, this type of deed also includes a unique provision known as a "retained power of revocation." This provision allows the granters to change their minds and revoke the deed at any time, without requiring the consent of the grantees. This provides additional flexibility and security to the granters. Overall, the Antioch California Enhanced Life Estate or Lady Bird Grant Deed is a valuable tool for individuals wishing to transfer their property to a trusted set of individuals, typically a husband and wife, while still maintaining certain rights and control over the property during their lifetime. It offers the benefits of a traditional life estate, along with additional powers and a retained power of revocation.
