This form is a Quitclaim Deed with a retained Enhanced Life Estate where the Grantor is an individual and the Grantees are two individuals or husband and wife. 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 Grantee, with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
The San Antonio Texas Enhanced Life Estate, also known as the Lady Bird Quitclaim Deed, is a legal document used to transfer property ownership from an individual to two individuals, typically a husband and wife. This type of deed is commonly used in estate planning to protect the surviving spouse and streamline the transfer of property upon their passing. The Lady Bird Quitclaim Deed is named after former First Lady, Lady Bird Johnson, who utilized this type of deed to transfer property to her children while retaining a life estate for herself. The enhanced life estate feature allows the individual who created the deed (the granter) to retain complete control and ownership of the property during their lifetime. They can sell, lease, mortgage, or modify the property without the consent of the remainder beneficiaries (the two individuals or the husband and wife). Upon the death of the granter, the property automatically transfers to the remainder beneficiaries without the need for probate. This means that the surviving spouse or the named beneficiaries become the full owners of the property without any legal complications. This process is often quicker and more cost-effective than going through probate court. There are different variations of the San Antonio Texas Enhanced Life Estate or Lady Bird Quitclaim Deed, depending on the specific wishes and circumstances of the granter. Some common variations include the Lady Bird Deed with Right to Sell, Lease, or Mortgage, which allows the granter to retain the ability to conduct these actions during their lifetime. Other variations include the Two-To-Joint-Tenants with Enhanced Life Estate, which transfers ownership to two individuals as joint tenants with rights of survivorship. This means that if one spouse passes away, the surviving spouse automatically becomes the sole owner of the property. Overall, the San Antonio Texas Enhanced Life Estate or Lady Bird Quitclaim Deed provides a flexible and efficient method for transferring property ownership between individuals or husband and wife while ensuring the life estate rights and protection for the granter. It is always recommended consulting with a qualified real estate attorney or estate planner to properly create and execute this type of deed to ensure compliance with local laws and individual circumstances.The San Antonio Texas Enhanced Life Estate, also known as the Lady Bird Quitclaim Deed, is a legal document used to transfer property ownership from an individual to two individuals, typically a husband and wife. This type of deed is commonly used in estate planning to protect the surviving spouse and streamline the transfer of property upon their passing. The Lady Bird Quitclaim Deed is named after former First Lady, Lady Bird Johnson, who utilized this type of deed to transfer property to her children while retaining a life estate for herself. The enhanced life estate feature allows the individual who created the deed (the granter) to retain complete control and ownership of the property during their lifetime. They can sell, lease, mortgage, or modify the property without the consent of the remainder beneficiaries (the two individuals or the husband and wife). Upon the death of the granter, the property automatically transfers to the remainder beneficiaries without the need for probate. This means that the surviving spouse or the named beneficiaries become the full owners of the property without any legal complications. This process is often quicker and more cost-effective than going through probate court. There are different variations of the San Antonio Texas Enhanced Life Estate or Lady Bird Quitclaim Deed, depending on the specific wishes and circumstances of the granter. Some common variations include the Lady Bird Deed with Right to Sell, Lease, or Mortgage, which allows the granter to retain the ability to conduct these actions during their lifetime. Other variations include the Two-To-Joint-Tenants with Enhanced Life Estate, which transfers ownership to two individuals as joint tenants with rights of survivorship. This means that if one spouse passes away, the surviving spouse automatically becomes the sole owner of the property. Overall, the San Antonio Texas Enhanced Life Estate or Lady Bird Quitclaim Deed provides a flexible and efficient method for transferring property ownership between individuals or husband and wife while ensuring the life estate rights and protection for the granter. It is always recommended consulting with a qualified real estate attorney or estate planner to properly create and execute this type of deed to ensure compliance with local laws and individual circumstances.
