This form is an Enhanced Life Estate Deedwhere the Grantor is an Individual and the Grantee is a Trust. It is also known as a "Lady Bird" Deed. Grantor conveys the property to Grantee subject to a retained enhanced life estate. The Grantor retains the right to sell, encumber, mortgage or otherwise impair the interest Grantee might receive in the future, without joinder or notice to Grantee, with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
Sterling Heights Michigan Enhanced Life Estate, also known as a Lady Bird Warranty Deed — Individual to a Trust, is a legal arrangement that allows individuals to transfer their property to a trust while retaining certain rights and benefits during their lifetime. This type of deed offers various benefits and safeguards for property owners and can be customized to meet specific needs. In Sterling Heights, Michigan, there are different types of Enhanced Life Estate or Lady Bird Warranty Deeds, including: 1. Standard Enhanced Life Estate Deed: This type of deed grants the individual, often referred to as the granter, the right to use and enjoy the property for their lifetime. They retain full control over the property, including the ability to sell or mortgage it. Upon their death, the property automatically transfers to the trust without going through probate. 2. Enhanced Life Estate Deed with Powers: This variation of the deed allows the granter to retain additional powers, such as the power to change the beneficiaries of the trust or the power to sell the property without needing the trustee's authorization. This type offers more flexibility and control to the granter while still ensuring a smooth transition of the property to the trust upon their passing. 3. Enhanced Life Estate Deed with Reserved Powers: Similar to the previous type, this deed also grants the granter certain powers during their lifetime. However, it reserves specific powers for the granter alone, such as the power to revoke or amend the trust. These reserved powers provide the granter with ultimate control over the property, even though it is technically held within the trust. 4. Lady Bird Warranty Deed: Named after former First Lady Bird Johnson, this variation is a type of enhanced life estate deed that includes a unique feature. While the granter retains the right to use and enjoy the property during their lifetime, they also have the power to sell or mortgage the property without requiring the trustee's approval. This added flexibility sets the Lady Bird Warranty Deed apart from other types of enhanced life estate deeds. In Sterling Heights, Michigan, the Enhanced Life Estate or Lady Bird Warranty Deed — Individual to a Trust provides property owners with comprehensive asset protection and the ability to seamlessly transfer property to a trust, avoiding probate and its associated costs and delays. It is crucial to consult with a legal professional experienced in estate planning to determine the most suitable type of deed based on individual circumstances and objectives.Sterling Heights Michigan Enhanced Life Estate, also known as a Lady Bird Warranty Deed — Individual to a Trust, is a legal arrangement that allows individuals to transfer their property to a trust while retaining certain rights and benefits during their lifetime. This type of deed offers various benefits and safeguards for property owners and can be customized to meet specific needs. In Sterling Heights, Michigan, there are different types of Enhanced Life Estate or Lady Bird Warranty Deeds, including: 1. Standard Enhanced Life Estate Deed: This type of deed grants the individual, often referred to as the granter, the right to use and enjoy the property for their lifetime. They retain full control over the property, including the ability to sell or mortgage it. Upon their death, the property automatically transfers to the trust without going through probate. 2. Enhanced Life Estate Deed with Powers: This variation of the deed allows the granter to retain additional powers, such as the power to change the beneficiaries of the trust or the power to sell the property without needing the trustee's authorization. This type offers more flexibility and control to the granter while still ensuring a smooth transition of the property to the trust upon their passing. 3. Enhanced Life Estate Deed with Reserved Powers: Similar to the previous type, this deed also grants the granter certain powers during their lifetime. However, it reserves specific powers for the granter alone, such as the power to revoke or amend the trust. These reserved powers provide the granter with ultimate control over the property, even though it is technically held within the trust. 4. Lady Bird Warranty Deed: Named after former First Lady Bird Johnson, this variation is a type of enhanced life estate deed that includes a unique feature. While the granter retains the right to use and enjoy the property during their lifetime, they also have the power to sell or mortgage the property without requiring the trustee's approval. This added flexibility sets the Lady Bird Warranty Deed apart from other types of enhanced life estate deeds. In Sterling Heights, Michigan, the Enhanced Life Estate or Lady Bird Warranty Deed — Individual to a Trust provides property owners with comprehensive asset protection and the ability to seamlessly transfer property to a trust, avoiding probate and its associated costs and delays. It is crucial to consult with a legal professional experienced in estate planning to determine the most suitable type of deed based on individual circumstances and objectives.
