This form is an Enhanced Life Estate Deed where the Grantors are two individuals or husband and wife and the Grantee is an individual. Grantors convey the property to Grantee subject to a retained enhanced life estate. Further, the Grantors retain for life 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 Miramar Florida Enhanced Life Estate or Lady Bird Deed is a specific type of real estate transfer that offers unique benefits to individuals and married couples. This legal instrument allows an individual or a married couple (husband and wife) to transfer their primary residence or other real property to an individual, while retaining certain rights and privileges during their lifetime. This enhanced life estate deed, also known as a Lady Bird Deed, is named after the former First Lady, Lady Bird Johnson, who utilized this form of conveyance to transfer property. It is popular in Florida due to its advantages in avoiding probate, preserving Medicaid eligibility, and allowing the granter(s) to have control over their property during their lifetime. There are different types of Miramar Florida Enhanced Life Estate or Lady Bird Deeds available, depending on the specific circumstances and needs of the individuals involved: 1. Miramar Florida Enhanced Life Estate Deed — Two Individual/Husband and Wife to Individual: This type of Lady Bird Deed involves the transfer of the property from both the husband and wife to an individual, such as a child or grandchild. The granters (husband and wife) retain the right to live in or use the property for their lifetime, including the ability to sell or mortgage the property without the consent of the remainder man (the individual receiving the property after the granters' death). Upon the death of the granters, the property immediately passes to the remainder man, bypassing probate. 2. Miramar Florida Enhanced Life Estate Deed — Two Individual to Individual: In this scenario, two individuals, who are not married, transfer their property to an individual remainder man. The same rights and privileges are retained by the granters during their lifetime, and the property automatically passes to the remainder man after their death, without going through probate. Both types of Miramar Florida Enhanced Life Estate or Lady Bird Deeds provide significant advantages. They allow the granters to maintain control over their property while transferring it to a chosen individual, without the need for probate. Furthermore, these deeds are beneficial for Medicaid planning, as the transferred property is not considered a countable asset for eligibility purposes. It is essential to consult with a qualified real estate attorney or estate planning professional when considering a Miramar Florida Enhanced Life Estate or Lady Bird Deed, as they can provide detailed guidance and ensure that the deed is properly executed to ensure its effectiveness and provide the desired benefits.A Miramar Florida Enhanced Life Estate or Lady Bird Deed is a specific type of real estate transfer that offers unique benefits to individuals and married couples. This legal instrument allows an individual or a married couple (husband and wife) to transfer their primary residence or other real property to an individual, while retaining certain rights and privileges during their lifetime. This enhanced life estate deed, also known as a Lady Bird Deed, is named after the former First Lady, Lady Bird Johnson, who utilized this form of conveyance to transfer property. It is popular in Florida due to its advantages in avoiding probate, preserving Medicaid eligibility, and allowing the granter(s) to have control over their property during their lifetime. There are different types of Miramar Florida Enhanced Life Estate or Lady Bird Deeds available, depending on the specific circumstances and needs of the individuals involved: 1. Miramar Florida Enhanced Life Estate Deed — Two Individual/Husband and Wife to Individual: This type of Lady Bird Deed involves the transfer of the property from both the husband and wife to an individual, such as a child or grandchild. The granters (husband and wife) retain the right to live in or use the property for their lifetime, including the ability to sell or mortgage the property without the consent of the remainder man (the individual receiving the property after the granters' death). Upon the death of the granters, the property immediately passes to the remainder man, bypassing probate. 2. Miramar Florida Enhanced Life Estate Deed — Two Individual to Individual: In this scenario, two individuals, who are not married, transfer their property to an individual remainder man. The same rights and privileges are retained by the granters during their lifetime, and the property automatically passes to the remainder man after their death, without going through probate. Both types of Miramar Florida Enhanced Life Estate or Lady Bird Deeds provide significant advantages. They allow the granters to maintain control over their property while transferring it to a chosen individual, without the need for probate. Furthermore, these deeds are beneficial for Medicaid planning, as the transferred property is not considered a countable asset for eligibility purposes. It is essential to consult with a qualified real estate attorney or estate planning professional when considering a Miramar Florida Enhanced Life Estate or Lady Bird Deed, as they can provide detailed guidance and ensure that the deed is properly executed to ensure its effectiveness and provide the desired benefits.
