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.
Purpose Of Lady Bird Deed
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?
Drafting legal paperwork from scratch can sometimes be intimidating. Certain scenarios might involve hours of research and hundreds of dollars invested. If you’re searching for a more straightforward and more cost-effective way of preparing Purpose Of Lady Bird Deed or any other paperwork without jumping through hoops, US Legal Forms is always at your fingertips.
Our online catalog of over 85,000 up-to-date legal forms addresses virtually every aspect of your financial, legal, and personal affairs. With just a few clicks, you can quickly access state- and county-specific templates diligently prepared for you by our legal professionals.
Use our platform whenever you need a trusted and reliable services through which you can quickly find and download the Purpose Of Lady Bird Deed. If you’re not new to our website and have previously set up an account with us, simply log in to your account, locate the form and download it away or re-download it at any time in the My Forms tab.
Not registered yet? No worries. It takes minutes to set it up and explore the catalog. But before jumping straight to downloading Purpose Of Lady Bird Deed, follow these recommendations:
- Check the form preview and descriptions to make sure you are on the the document you are looking for.
- Make sure the template you choose conforms with the requirements of your state and county.
- Choose the right subscription option to get the Purpose Of Lady Bird Deed.
- Download the form. Then fill out, certify, and print it out.
US Legal Forms boasts a spotless reputation and over 25 years of expertise. Join us now and turn form execution into something easy and streamlined!
Form popularity
FAQ
A property transferred with a Texas lady bird deed keeps its Texas homestead protections because the owner who creates the deed retains full control over the property for life. The owner can continue benefitting from the favorable property tax treatment and asset-protection exemptions for Texas homesteads.
How to Create a Florida Lady Bird Deed A correct legal description of the property. A statement of the consideration is provided if there is any. The name of the grantor. The name(s) of the beneficiary(ies) (if multiple owners are on title, a specification as to how the co-owners will hold title is required).
Disadvantages of a Lady Bird deed If you plan to apply for a mortgage on the property, some title insurance companies may be reluctant to provide title insurance on property subject to a Lady Bird deed. You want to leave the property to more than one grantee. There is a fairly large mortgage balance on the property.
Disadvantages of a Lady Bird deed If you plan to apply for a mortgage on the property, some title insurance companies may be reluctant to provide title insurance on property subject to a Lady Bird deed. You want to leave the property to more than one grantee. There is a fairly large mortgage balance on the property.
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.