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 Lakeland Florida Enhanced Life Estate, also known as a Lady Bird Deed — Individual to Individual, is a legal instrument that allows property owners to transfer ownership interest in their property, while retaining certain rights and control during their lifetime. This unique type of deed has gained popularity in Florida due to its advantageous features. The concept of an Enhanced Life Estate deed originated in Texas and was named after President Lyndon B. Johnson's wife, Lady Bird Johnson. It was later adopted in Florida and is commonly referred to as a Lady Bird Deed in the state. This type of deed enables the property owner, referred to as the granter, to transfer the property to a grantee (usually a family member or trusted individual), while retaining key rights such as the ability to live in the property for a specified period or until death, the authority to sell, mortgage, or lease the property without the grantee's consent, and the ability to revoke or change the deed at any time without the grantee's involvement. The primary advantage of a Lakeland Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual is that it allows the granter to maintain control over their property while avoiding the probate process upon their death. By using this type of deed, the property automatically transfers to the grantee upon the granter's death, bypassing the need for probate court involvement. There are a few variations of the Lakeland Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual, each with slightly different terms and features. These may include: 1. Standard Lady Bird Deed: This is the most common type and provides the granter with the ability to sell, lease, mortgage, or otherwise transfer any interest in the property without the grantee's permission. It also offers the granter the right to live in the property for their lifetime. 2. Conditional Lady Bird Deed: This type allows the granter to impose certain conditions on the transfer of the property to the grantee. For example, the granter may specify that the property will only transfer if the grantee survives them for a certain number of years. 3. Diversionary Lady Bird Deed: With this variation, the property will revert to the granter if specific conditions are not met. For instance, if the grantee fails to provide care for the granter or sells the property before the granter's death. Overall, a Lakeland Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual is an effective estate planning tool for individuals who wish to maintain control over their property during their lifetime while ensuring a smooth transfer of ownership upon their passing. Having such a deed in place can help individuals protect their property rights and simplify the transfer process for their loved ones.A Lakeland Florida Enhanced Life Estate, also known as a Lady Bird Deed — Individual to Individual, is a legal instrument that allows property owners to transfer ownership interest in their property, while retaining certain rights and control during their lifetime. This unique type of deed has gained popularity in Florida due to its advantageous features. The concept of an Enhanced Life Estate deed originated in Texas and was named after President Lyndon B. Johnson's wife, Lady Bird Johnson. It was later adopted in Florida and is commonly referred to as a Lady Bird Deed in the state. This type of deed enables the property owner, referred to as the granter, to transfer the property to a grantee (usually a family member or trusted individual), while retaining key rights such as the ability to live in the property for a specified period or until death, the authority to sell, mortgage, or lease the property without the grantee's consent, and the ability to revoke or change the deed at any time without the grantee's involvement. The primary advantage of a Lakeland Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual is that it allows the granter to maintain control over their property while avoiding the probate process upon their death. By using this type of deed, the property automatically transfers to the grantee upon the granter's death, bypassing the need for probate court involvement. There are a few variations of the Lakeland Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual, each with slightly different terms and features. These may include: 1. Standard Lady Bird Deed: This is the most common type and provides the granter with the ability to sell, lease, mortgage, or otherwise transfer any interest in the property without the grantee's permission. It also offers the granter the right to live in the property for their lifetime. 2. Conditional Lady Bird Deed: This type allows the granter to impose certain conditions on the transfer of the property to the grantee. For example, the granter may specify that the property will only transfer if the grantee survives them for a certain number of years. 3. Diversionary Lady Bird Deed: With this variation, the property will revert to the granter if specific conditions are not met. For instance, if the grantee fails to provide care for the granter or sells the property before the granter's death. Overall, a Lakeland Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual is an effective estate planning tool for individuals who wish to maintain control over their property during their lifetime while ensuring a smooth transfer of ownership upon their passing. Having such a deed in place can help individuals protect their property rights and simplify the transfer process for their loved ones.
