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2016 U.S. Legal Forms, Inc.TEXAS LADY BIRD DEED (ENHANCED LIFE ESTATE DEED) Individual to Individual Control Number: TX04178I. TIPS ON COMPLETING THE FORMS The form(s) in this packet may contain form.

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Lady bird deeds differ from traditional life estate deeds in that the life tenant continues to have the right to sell or mortgage his / her home without beneficiary consent. In fact, the life tenant is even able to cancel the deed or change the beneficiary.

Lady Bird deeds can be very beneficial if you want to pass your home to someone else but may need to apply for Medicaid soon thereafter. In order to qualify for Medicaid, an applicant cannot have transferred property within five years of the application.

Creating a lady bird deed is very inexpensive. In fact, the approximate do it yourself cost is only $30. Professional assistance is also very affordable, and on average, costs between $200 and $400. This includes drafting the deed and filing it with the local register of deeds.

Warranties. ... A ladybird deed may transfer title with warranties in the deed whereby the grantor warrants that he has full ownership of the property at the time of the conveyance. Quitclaim language, however, could also be used in a ladybird deed, with the seller deeding whatever interest he has to pass at his death.

This right to rescind is what distinguishes a Lady Bird Deed from a standard Life Estate Deed. ... A properly written, signed and filed Enhanced Life Estate Deed does supersede the terms of the owner's Will, so long as the grantor has not exercised the retained right to reclaim ownership while living.

The Will is overcome by the Deed. Further, under the Deed title to the property passes to the grantee without needing to go through probate. However, if the grantor during life exercises the retained right to reclaim ownership then the Lady Bird deed is canceled.

A Lady Bird deed avoids probate, so the home is not part of the probate estate and Medicaid cannot go after it.

Lady Bird deeds are currently only authorized in Florida, Michigan, Texas, Vermont, and West Virginia. Approximately half of the U.S. states have what is called a transfer on death (TOD) or beneficiary deed, which is similar to, and may be preferable to, a Lady Bird deed.

It only applies to residential properties and must be promptly recorded after it is notarized. This document is exempt from documentary transfer tax under Rev. & Tax. Code §11930.

States That Allow a Lady Bird Deed Lady Bird deeds are currently only authorized in Florida, Michigan, Texas, Vermont, and West Virginia. Approximately half of the U.S. states have what is called a transfer on death (TOD) or beneficiary deed, which is similar to, and may be preferable to, a Lady Bird deed.

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© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232
Form Packages
Adoption
Bankruptcy
Contractors
Divorce
Home Sales
Employment
Identity Theft
Incorporation
Landlord Tenant
Living Trust
Name Change
Personal Planning
Small Business
Wills & Estates
Packages A-Z
Form Categories
Affidavits
Bankruptcy
Bill of Sale
Corporate - LLC
Divorce
Employment
Identity Theft
Internet Technology
Landlord Tenant
Living Wills
Name Change
Power of Attorney
Real Estate
Small Estates
Wills
All Forms
Forms A-Z
Form Library
Customer Service
Terms of Service
DMCA Policy
About Us
Blog
Affiliates
Contact Us
Privacy Notice
Delete My Account
Site Map
Industries
Forms in Spanish
Localized Forms
State-specific Forms
Forms Kit
Legal Guides
Real Estate Handbook
All Guides
Prepared for You
Notarize
Incorporation services
Our Customers
For Consumers
For Small Business
For Attorneys
Our Sites
US Legal Forms
USLegal
FormsPass
pdfFiller
signNow
airSlate workflows
DocHub
Instapage
Social Media
Call us now toll free:
1-877-389-0141
As seen in:
  • USA Today logo picture
  • CBC News logo picture
  • LA Times logo picture
  • The Washington Post logo picture
  • AP logo picture
  • Forbes logo picture
© Copyright 1997-2025
airSlate Legal Forms, Inc.
3720 Flowood Dr, Flowood, Mississippi 39232