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.
Orlando Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual refers to a specialized type of real estate transfer that offers enhanced benefits for property owners in the Orlando area. This unique legal instrument provides individuals with more flexibility and control over their property while allowing them to retain full control and ownership during their lifetime. The term "Enhanced Life Estate" or "Lady Bird Deed" is often used interchangeably to refer to the same type of legal document. This deed operates as a probate avoidance tool, allowing property owners to transfer their property to another individual upon their death without the need for probate court involvement. Unlike traditional life estates, an enhanced life estate or Lady Bird deed allows the original owner to retain certain control and rights over the property throughout their lifetime. Key features of the Orlando Florida Enhanced Life Estate or Lady Bird Deed include: 1. Retention of Control: The original property owner retains the right to sell, mortgage, or make changes to the property during their lifetime without obtaining the consent of the remainder beneficiaries. This provides the granter with maximum flexibility and control over their property. 2. Ownership during Lifetime: The individual who creates the deed (granter) continues to hold full ownership and control of the property during their lifetime. They can live on the property, receive rental income, or make any other use of the property as they see fit. 3. Automatic Transfer upon Death: Upon the death of the granter, the property automatically transfers to the designated beneficiary (remainder man) named in the deed, without the need for probate proceedings. This enables a seamless transfer of ownership while avoiding the time-consuming and costly probate process. 4. Medicaid Planning: An enhanced life estate or Lady Bird deed can be particularly beneficial for Medicaid planning as it allows individuals to retain their eligibility for Medicaid benefits while still preserving their property ownership rights. It is worth noting that while the terms "Enhanced Life Estate" and "Lady Bird Deed" are commonly used in the industry, there might be slight variations in these deeds across different jurisdictions or states. However, in the context of Orlando, Florida, these terms typically refer to the same type of property transfer instrument. In summary, the Orlando Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual offers property owners unique benefits and flexibility by allowing them to retain control, ownership, and the right to benefit from their property during their lifetime while facilitating a seamless transfer of ownership upon their death.Orlando Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual refers to a specialized type of real estate transfer that offers enhanced benefits for property owners in the Orlando area. This unique legal instrument provides individuals with more flexibility and control over their property while allowing them to retain full control and ownership during their lifetime. The term "Enhanced Life Estate" or "Lady Bird Deed" is often used interchangeably to refer to the same type of legal document. This deed operates as a probate avoidance tool, allowing property owners to transfer their property to another individual upon their death without the need for probate court involvement. Unlike traditional life estates, an enhanced life estate or Lady Bird deed allows the original owner to retain certain control and rights over the property throughout their lifetime. Key features of the Orlando Florida Enhanced Life Estate or Lady Bird Deed include: 1. Retention of Control: The original property owner retains the right to sell, mortgage, or make changes to the property during their lifetime without obtaining the consent of the remainder beneficiaries. This provides the granter with maximum flexibility and control over their property. 2. Ownership during Lifetime: The individual who creates the deed (granter) continues to hold full ownership and control of the property during their lifetime. They can live on the property, receive rental income, or make any other use of the property as they see fit. 3. Automatic Transfer upon Death: Upon the death of the granter, the property automatically transfers to the designated beneficiary (remainder man) named in the deed, without the need for probate proceedings. This enables a seamless transfer of ownership while avoiding the time-consuming and costly probate process. 4. Medicaid Planning: An enhanced life estate or Lady Bird deed can be particularly beneficial for Medicaid planning as it allows individuals to retain their eligibility for Medicaid benefits while still preserving their property ownership rights. It is worth noting that while the terms "Enhanced Life Estate" and "Lady Bird Deed" are commonly used in the industry, there might be slight variations in these deeds across different jurisdictions or states. However, in the context of Orlando, Florida, these terms typically refer to the same type of property transfer instrument. In summary, the Orlando Florida Enhanced Life Estate or Lady Bird Deed — Individual to Individual offers property owners unique benefits and flexibility by allowing them to retain control, ownership, and the right to benefit from their property during their lifetime while facilitating a seamless transfer of ownership upon their death.
