This form is a Warranty Deed with a retained Enhanced Life Estate where the Grantors are husband and wife and the Grantees are husband and wife. The form is also known as a "Lady Bird" Deed. Grantors convey the property to Grantees subject to an enhanced retained life estate in each of the Grantors. The Grantors retain for life 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.
Harris Texas Enhanced Life Estate or Lady Bird Warranty Deed from Husband and Wife to Husband and Wife: The Harris Texas Enhanced Life Estate or Lady Bird Warranty Deed is a specific type of property transfer document used in Texas for married couples. This legal instrument offers unique benefits and protections, providing a secure way for spouses to transfer property interests to each other while preserving their rights during their lifetimes. The concept of the Enhanced Life Estate Deed, commonly known as the Lady Bird Deed, originates from former First Lady Bird Johnson's estate planning arrangements. It offers key advantages, granting the granters (husband and wife) the ability to retain control and benefit from the property while alive, yet have it automatically pass to the surviving spouse without the need for probate proceedings upon the first spouse's death. This deed type in Harris County, Texas, ensures that both spouses have the right to live in the property for the duration of their lives, and the flexibility to sell or mortgage the property without obtaining the consent of the other spouse. Moreover, it preserves the surviving spouse's eligibility for certain government benefits programs, such as Medicaid, by effectively avoiding the property's inclusion in the deceased spouse's estate. There are two main variations of the Harris Texas Enhanced Life Estate or Lady Bird Warranty Deed from Husband and Wife to Husband and Wife: 1. Traditional Enhanced Life Estate Deed: This version enables the granters to retain full control and ownership rights over the property for their lifetimes. They may choose to sell, lease, or mortgage the property without restrictions. After the death of the first spouse, the property title automatically passes to the surviving spouse, bypassing the probate process. 2. Enhanced Life Estate Deed with Powers: This variation grants the granters additional powers and flexibility regarding the property during their lifetimes. They usually have the authority to sell, lease, or mortgage the property without the consent of the other spouse. Furthermore, they retain the option to revoke or change the deed, allowing for greater control and adaptability. Both versions aim to provide seamless property transfer while offering asset protection and estate planning benefits for the married couple. When creating these deeds, it is crucial to consult with an experienced attorney to ensure compliance with the specific legal requirements of Harris County, Texas, and to properly address any unique circumstances or estate planning goals.Harris Texas Enhanced Life Estate or Lady Bird Warranty Deed from Husband and Wife to Husband and Wife: The Harris Texas Enhanced Life Estate or Lady Bird Warranty Deed is a specific type of property transfer document used in Texas for married couples. This legal instrument offers unique benefits and protections, providing a secure way for spouses to transfer property interests to each other while preserving their rights during their lifetimes. The concept of the Enhanced Life Estate Deed, commonly known as the Lady Bird Deed, originates from former First Lady Bird Johnson's estate planning arrangements. It offers key advantages, granting the granters (husband and wife) the ability to retain control and benefit from the property while alive, yet have it automatically pass to the surviving spouse without the need for probate proceedings upon the first spouse's death. This deed type in Harris County, Texas, ensures that both spouses have the right to live in the property for the duration of their lives, and the flexibility to sell or mortgage the property without obtaining the consent of the other spouse. Moreover, it preserves the surviving spouse's eligibility for certain government benefits programs, such as Medicaid, by effectively avoiding the property's inclusion in the deceased spouse's estate. There are two main variations of the Harris Texas Enhanced Life Estate or Lady Bird Warranty Deed from Husband and Wife to Husband and Wife: 1. Traditional Enhanced Life Estate Deed: This version enables the granters to retain full control and ownership rights over the property for their lifetimes. They may choose to sell, lease, or mortgage the property without restrictions. After the death of the first spouse, the property title automatically passes to the surviving spouse, bypassing the probate process. 2. Enhanced Life Estate Deed with Powers: This variation grants the granters additional powers and flexibility regarding the property during their lifetimes. They usually have the authority to sell, lease, or mortgage the property without the consent of the other spouse. Furthermore, they retain the option to revoke or change the deed, allowing for greater control and adaptability. Both versions aim to provide seamless property transfer while offering asset protection and estate planning benefits for the married couple. When creating these deeds, it is crucial to consult with an experienced attorney to ensure compliance with the specific legal requirements of Harris County, Texas, and to properly address any unique circumstances or estate planning goals.
