This form is an Enhanced Life Estate Deed where the Grantors are two individuals or husband and wife and the Grantee is an individual. Grantors convey the property to Grantee subject to a retained enhanced life estate. Further, the Grantors retain for life the right to sell, encumber, mortgage or otherwise impair the interest Grantee might receive in the future with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
Fl Enhanced Life With 10
State:
Florida
Control #:
FL-03-83
Format:
Word;
Rich Text
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How to fill out Florida Enhanced Life Estate Or Lady Bird Deed - Two Individual / Husband And Wife To Individual?
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The difference in a life estate deed versus the enhanced life estate deed (aka Lady Bird Deed) is that unlike a regular life estate deed, with an enhanced life estate deed you retain the ability to sell or mortgage your interests in the property during your lifetime.
An enhanced life estate deed is a unique type of deed recognized in Florida and just four other states. It is sometimes referred to as a ?Lady Bird? deed and can be used to transfer ownership of real property to intended beneficiaries upon death without the need for probate.
The Lady Bird Deed, also known as a Florida Enhanced Life Estate Deed, is a specialized life estate deed designed to seamlessly transfer property ownership upon the death of the owner(s) without the need for probate.
Q: What is an ?Enhanced? Life Estate deed? A. This type of deed that transfers property to a grantee while the grantor (you) retains the ability to live on said property for the rest of his or her life.
In Florida, a property owner technically can prepare their own Lady Bird deed (also known as an Enhanced Life Estate Deed).