This form is a Quitclaim Deed with a retained Enhanced Life Estate where the Grantor is an individual and the Grantee is an individual. It is also known as a "Lady Bird" Deed. Grantor conveys the property to Grantee subject to an enhanced retained life estate. The Grantor retains the right to sell, encumber, mortgage or otherwise impair the interest Grantee 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.
Lady Bird Deed What Is It
State:
Connecticut
Control #:
CT-01-82
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Connecticut Enhanced Life Estate Or Lady Bird Quitclaim Deed - Individual To Individual?
Handling legal papers and operations could be a time-consuming addition to your entire day. Lady Bird Deed What Is It and forms like it usually need you to search for them and understand how you can complete them properly. As a result, regardless if you are taking care of financial, legal, or individual matters, using a extensive and practical web catalogue of forms when you need it will greatly assist.
US Legal Forms is the number one web platform of legal templates, offering over 85,000 state-specific forms and a number of resources that will help you complete your papers easily. Check out the catalogue of pertinent papers available with just a single click.
US Legal Forms offers you state- and county-specific forms offered by any time for downloading. Safeguard your document management procedures using a high quality service that lets you put together any form within minutes without any additional or hidden charges. Simply log in in your profile, identify Lady Bird Deed What Is It and acquire it right away within the My Forms tab. You may also gain access to previously saved forms.
Would it be your first time making use of US Legal Forms? Register and set up up your account in a few minutes and you will have access to the form catalogue and Lady Bird Deed What Is It. Then, stick to the steps listed below to complete your form:
- Make sure you have discovered the correct form using the Preview option and reading the form information.
- Select Buy Now as soon as ready, and choose the subscription plan that meets your needs.
- Select Download then complete, sign, and print the form.
US Legal Forms has twenty five years of experience helping users handle their legal papers. Obtain the form you need today and enhance any process without breaking a sweat.
Form popularity
FAQ
One disadvantage of using a Lady Bird deed alone is that it's not the most flexible solution. The document may need additional work if you wish to leave your assets to multiple beneficiaries. New circumstances may make you change your mind about your initially chosen beneficiary or the transfer.
Disadvantages. The downside is that property transferred via a lady bird deed will be subject to a new tax assessment that could (and often does) result in higher property taxes generally.
Ladybird deeds allow homeowners to transfer their interest in the property with warranties, whereas the Texas Transfer on Death Deed statute specifically states that the interest in the property transfers without covenant of warranty of title, even if the deed contains a contrary provision.
Like a Lady Bird Deed, a trust avoids probate. Unlike a Lady Bird Deed, however, the assets that can be in a trust are more than just the family home. So, for those who have extensive assets or want to protect more than just the family home, a trust can be a good estate planning tool to use.
A Lady Bird Deed is a transfer of property to another with a reservation of a life estate. Meaning a person can transfer property and retain ownership in that property until death, at which point it will then transfer to the other.