This form is a Quitclaim Deed with a retained Enhanced Life Estate where the Grantors are husband and wife, or two individuals, and the Grantees are four (4)individuals. It is also known as a "Lady Bird" Deed. Grantors conveys the property to Grantees subject to an enhanced retained life estate. The Grantors, and each of them, retain 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.
A High Point North Carolina Enhanced Life Estate Deed, also known as a "Lady Bird Deed", is a legal document that allows a property owner (either a husband and wife or two individuals) to transfer their property to four individuals as tenants in common while retaining a life estate. This type of deed provides certain benefits and protections for the granter (original owner) and the grantees (new owners). The term "Lady Bird Deed" originated from the fact that Lady Bird Johnson, the wife of former U.S. President Lyndon B. Johnson, used a similar type of deed to transfer property. The deed is commonly used in North Carolina as a means of avoiding probate and ensuring the granter has control over the property during their lifetime. One type of High Point North Carolina Enhanced Life Estate Deed is the "Single Husband and Wife to Four Individuals as Tenants in Common Deed". This type of deed allows a married couple to transfer their property to four individuals who will own the property as tenants in common. It is important to note that the deed can only be executed by married couples, and both spouses must sign the document. Another type of Enhanced Life Estate Deed is the "Two Individuals to Four Individuals as Tenants in Common Deed". This deed is applicable when two individuals, who may or may not be married, wish to transfer their property to four individuals as tenants in common. Similar to the previous type, all parties involved must sign the deed for it to be legally valid. By using the High Point North Carolina Enhanced Life Estate Deed (Lady Bird) from Husband and Wife, or Two Individuals, to Four Individuals as Tenants in Common, the granter maintains control of the property during their lifetime. They also have the right to sell, mortgage or lease the property without obtaining permission from the grantees. Additionally, this type of deed helps avoid probate, providing a quicker and simplified process for transferring ownership to the grantees upon the granter's death. In summary, the High Point North Carolina Enhanced Life Estate Deed (Lady Bird) from Husband and Wife, or Two Individuals, to Four Individuals as Tenants in Common is a legal instrument that empowers property owners to transfer their property while maintaining control and allowing for an easier transfer of ownership upon their passing.A High Point North Carolina Enhanced Life Estate Deed, also known as a "Lady Bird Deed", is a legal document that allows a property owner (either a husband and wife or two individuals) to transfer their property to four individuals as tenants in common while retaining a life estate. This type of deed provides certain benefits and protections for the granter (original owner) and the grantees (new owners). The term "Lady Bird Deed" originated from the fact that Lady Bird Johnson, the wife of former U.S. President Lyndon B. Johnson, used a similar type of deed to transfer property. The deed is commonly used in North Carolina as a means of avoiding probate and ensuring the granter has control over the property during their lifetime. One type of High Point North Carolina Enhanced Life Estate Deed is the "Single Husband and Wife to Four Individuals as Tenants in Common Deed". This type of deed allows a married couple to transfer their property to four individuals who will own the property as tenants in common. It is important to note that the deed can only be executed by married couples, and both spouses must sign the document. Another type of Enhanced Life Estate Deed is the "Two Individuals to Four Individuals as Tenants in Common Deed". This deed is applicable when two individuals, who may or may not be married, wish to transfer their property to four individuals as tenants in common. Similar to the previous type, all parties involved must sign the deed for it to be legally valid. By using the High Point North Carolina Enhanced Life Estate Deed (Lady Bird) from Husband and Wife, or Two Individuals, to Four Individuals as Tenants in Common, the granter maintains control of the property during their lifetime. They also have the right to sell, mortgage or lease the property without obtaining permission from the grantees. Additionally, this type of deed helps avoid probate, providing a quicker and simplified process for transferring ownership to the grantees upon the granter's death. In summary, the High Point North Carolina Enhanced Life Estate Deed (Lady Bird) from Husband and Wife, or Two Individuals, to Four Individuals as Tenants in Common is a legal instrument that empowers property owners to transfer their property while maintaining control and allowing for an easier transfer of ownership upon their passing.
