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.
Florida Lady Bird Deed Template With Title
State:
Florida
Control #:
FL-03-83
Format:
Word;
Rich Text
Instant download
Description
Free preview
How to fill out Florida Enhanced Life Estate Or Lady Bird Deed - Two Individual / Husband And Wife To Individual?
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FAQ
A ladybird deed must have the following: 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).
Lady bird deeds have no impact on your taxable estate, meaning you can get the full step-up in basis at death. Simply put, if you use a lady bird deed, all capital gains on the deeded property are eliminated on the day you die.
Typically, this involves submitting the following to your state registrar: Death certificate. Notarized affidavit confirming their passing and the new owner's right to the property. Submission of the new deed with it signed and notarized by the new owner.
It's generally not advisable to do this without legal expertise. The preparation of a Lady Bird deed requires a precise understanding of Florida property law and estate planning law.
Yes. Because the life estate retained by the owner(s) is ?enhanced?, you can record a new deed without the consent or involvement of the remainder beneficiaries.