This form is an Enhanced Life Estate Deed where the Grantor is an individual and the Grantees are three individuals. Grantor conveys the property to Grantees subject to a retained enhanced life estate. Further, the Grantor retains for life the right to sell, encumber, mortgage or otherwise impair the interest Grantees 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.
In Hialeah, Florida, an Enhanced Life Estate Deed, commonly known as a Lady Bird Deed, is a legal tool commonly used in estate planning to transfer ownership of real estate from an individual to three individuals, while still allowing the original owner to retain control over the property during their lifetime. This type of deed offers several benefits, including the ability to avoid probate, protect the property from Medicaid estate recovery, and maintain control and flexibility over the property until the original owner's death. A Lady Bird Deed operates as a quitclaim deed, but with added features that enhance its benefits. It allows the original owner, also referred to as the granter, to retain the right to access, occupy, lease, and sell the property without the permission of the grantees (the three individuals who will receive the property upon the granter's death). Additionally, the granter can change or revoke the deed at any time during their lifetime without the consent of the grantees. There are different variations of the Hialeah Florida Enhanced Life Estate or Lady Bird Deed Quitclaimai— - Individual to Three Individuals: 1. Traditional Lady Bird Deed: This version allows the original owner to retain complete control over the property during their lifetime. It only becomes effective upon their death and automatically transfers ownership to the three named individuals without the need for probate. 2. Diversionary Lady Bird Deed: This type of deed grants the original owner the right to change or revoke the deed during their lifetime. However, if no changes occur, ownership automatically transfers to the three individuals upon the granter's death. 3. Enhanced Life Estate Deed with Reserved Power of Sale: This variation allows the original owner to access and control the property during their lifetime, but also grants them the power to sell the property if desired. This provision offers additional flexibility to the granter while still avoiding probate. 4. Enhanced Life Estate Deed with Reserved Power to Change Grantees: This type of deed allows the original owner to transfer the property to different individuals or entities as grantees during their lifetime, providing them with the ability to update or change the beneficiaries of the property. In summary, the Hialeah Florida Enhanced Life Estate or Lady Bird Deed Quitclaimai— - Individual to Three Individuals is an advantageous estate planning tool that enables the transfer of property ownership while allowing the original owner to maintain control and flexibility during their lifetime. The different variations of this deed cater to specific needs, providing additional options such as the power to sell the property or change the grantees.In Hialeah, Florida, an Enhanced Life Estate Deed, commonly known as a Lady Bird Deed, is a legal tool commonly used in estate planning to transfer ownership of real estate from an individual to three individuals, while still allowing the original owner to retain control over the property during their lifetime. This type of deed offers several benefits, including the ability to avoid probate, protect the property from Medicaid estate recovery, and maintain control and flexibility over the property until the original owner's death. A Lady Bird Deed operates as a quitclaim deed, but with added features that enhance its benefits. It allows the original owner, also referred to as the granter, to retain the right to access, occupy, lease, and sell the property without the permission of the grantees (the three individuals who will receive the property upon the granter's death). Additionally, the granter can change or revoke the deed at any time during their lifetime without the consent of the grantees. There are different variations of the Hialeah Florida Enhanced Life Estate or Lady Bird Deed Quitclaimai— - Individual to Three Individuals: 1. Traditional Lady Bird Deed: This version allows the original owner to retain complete control over the property during their lifetime. It only becomes effective upon their death and automatically transfers ownership to the three named individuals without the need for probate. 2. Diversionary Lady Bird Deed: This type of deed grants the original owner the right to change or revoke the deed during their lifetime. However, if no changes occur, ownership automatically transfers to the three individuals upon the granter's death. 3. Enhanced Life Estate Deed with Reserved Power of Sale: This variation allows the original owner to access and control the property during their lifetime, but also grants them the power to sell the property if desired. This provision offers additional flexibility to the granter while still avoiding probate. 4. Enhanced Life Estate Deed with Reserved Power to Change Grantees: This type of deed allows the original owner to transfer the property to different individuals or entities as grantees during their lifetime, providing them with the ability to update or change the beneficiaries of the property. In summary, the Hialeah Florida Enhanced Life Estate or Lady Bird Deed Quitclaimai— - Individual to Three Individuals is an advantageous estate planning tool that enables the transfer of property ownership while allowing the original owner to maintain control and flexibility during their lifetime. The different variations of this deed cater to specific needs, providing additional options such as the power to sell the property or change the grantees.
