This form is an Enhanced Life Estate Deed where the Grantor is an individual and the Grantees are five 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.
A Broward Florida Enhanced Life Estate or Lady Bird Deed, also known as a Quitclaim Deed — Individual to Five Individuals, is a legal document used in real estate transactions to transfer property ownership while allowing the granter to retain absolute control and ownership rights during their lifetime. This type of deed grants rights to the named beneficiaries upon the granter's death without the need for probate. The Broward Florida Enhanced Life Estate Deed or Lady Bird Deed offers several advantages over traditional deeds, making it a popular choice for property owners. The primary benefit is the ability to bypass probate, which can be a time-consuming and costly process. A Lady Bird Deed allows the granter to retain full ownership rights and control over the property, including the ability to sell, mortgage, or use the property during their lifetime. In the context of individual to five individuals, the granter can transfer ownership of the property to up to five named individuals while retaining their own rights to use and control the property. This type of deed is commonly used for estate planning purposes, especially when the granter wants to ensure a seamless transfer of property to multiple beneficiaries upon their death. Some other types of Broward Florida Enhanced Life Estate or Lady Bird Deeds include: 1. Enhanced Life Estate Deed — Individual to Spouse: This variation allows the granter to transfer their property solely to their spouse but retain the rights and control over the property until their death. Upon the granter's death, the spouse becomes the sole owner of the property and automatically assumes full control and ownership without the need for probate. 2. Enhanced Life Estate Deed — Individual to Trust: In this case, the granter transfers their property to a trust, with the granter serving as the trustee during their lifetime. The granter retains control over the property and can freely manage it. After the granter's death, the named beneficiaries of the trust inherit the property without probate. In summary, a Broward Florida Enhanced Life Estate or Lady Bird Deed Quitclaimai— - Individual to Five Individuals is a powerful estate planning tool that allows a property owner to transfer their property to five named beneficiaries while retaining control and ownership rights during their lifetime. By utilizing this type of deed, individuals can ensure a smooth and hassle-free transfer of property, avoiding probate and associated expenses.
