Also known as a "Lady Bird" Deed, this form is a Warranty Deed with a retained Enhanced Life Estate where the Grantor is an individual and the Grantees are two individuals or husband and wife. 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.
A San Antonio Texas Lady Bird or Enhanced Life Estate Warranty Deed from an individual to two individuals or husband and wife is a legal document that transfers property ownership from a single individual, referred to as the Granter, to two other individuals, referred to as the Grantees, who may either be a married couple or two individuals. This type of deed includes specific provisions that grant the Granter certain rights and benefits during their lifetime, while passing ownership to the Grantees upon the Granter's death. The term "Lady Bird" or "Enhanced Life Estate" refers to a special type of life estate deed that offers additional benefits and protections to the Granter. While traditional life estates typically limit the Granter's rights during their lifetime, a Lady Bird or Enhanced Life Estate Deed provides the Granter with the ability to retain control, use, and enjoyment of the property without any restrictions during their lifetime. This specific type of deed is commonly used for estate planning purposes, allowing the Granter to transfer property to their spouse or chosen individuals while maintaining the right to live in or rent out the property, use any income generated by the property, and make any desired changes or improvements to the property. It provides the Granter with a sense of security and peace of mind, enabling them to maintain their standard of living while ensuring that the property will pass to the Grantees upon their death. The Lady Bird or Enhanced Life Estate Deed in San Antonio, Texas, may have additional variations based on the preferences of the parties involved and the specific terms outlined in the deed. Different types may include variations in the rights and responsibilities of the Grantees, such as the ability to sell or mortgage the property during the lifetime of the Granter. Overall, the Lady Bird or Enhanced Life Estate Warranty Deed from an individual to two individuals or husband and wife provides a comprehensive legal framework for the transfer of property ownership, while allowing the Granter to maintain their rights and enjoyment of the property during their lifetime.
