This form is a Quitclaim Deed with a retained Enhanced Life Estate where the Grantor is an individual and the Grantees are three individuals. It is also known as a "Lady Bird" Deed. Grantor conveys the property to Grantees subject to an enhanced retained life estate. The Grantor retains the right to sell, encumber, mortgage or otherwise impair the interest Grantees might receive in the future, without joinder or notice to Grantees, with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
Grand Rapids Michigan Enhanced Life Estate or Lady Bird Deed — Individual to Three Individuals: A Grand Rapids Michigan Enhanced Life Estate or Lady Bird Deed is a legal instrument used to transfer property ownership to three individuals while retaining the right to use and occupy the property during the granter's lifetime. This type of deed is commonly used in estate planning to ensure a seamless transfer of property and avoid probate. Keywords: Grand Rapids Michigan, Enhanced Life Estate, Lady Bird Deed, Individual to Three Individuals, property ownership, retain right to use, occupy property, granter's lifetime, estate planning, avoid probate. Different Types of Grand Rapids Michigan Enhanced Life Estate or Lady Bird Deed — Individual to Three Individuals: 1. Enhanced Life Estate Deed — Individual to Three Individuals: This type of deed allows an individual property owner to transfer their property to three individuals while also retaining the right to use and occupy the property during their lifetime. This ensures that the granter can continue to live in and enjoy their property while planning for its long-term ownership. 2. Lady Bird Deed — Individual to Three Individuals: Similarly, a Lady Bird Deed allows an individual to transfer property ownership to three individuals while reserving a life estate for themselves. The granter can enjoy the property, receive income from it, and have the power to sell or mortgage it without the need for the beneficiaries' consent during their lifetime. 3. Joint Tenancy with Enhanced Life Estate Deed — Individual to Three Individuals: This type of deed combines the benefits of joint tenancy with enhanced life estate. It allows an individual property owner to transfer property ownership to three individuals as joint tenants with rights of survivorship, while retaining a life estate. Upon the granter's death, the property automatically passes to the surviving joint tenants, avoiding probate. Each of these deeds serves a similar purpose of transferring property ownership to three individuals while allowing the granter to retain rights to use and occupy the property. They offer various benefits in terms of estate planning, avoiding probate, and ensuring a smooth transfer of property ownership in Grand Rapids, Michigan.
