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 With Name
State:
Florida
Control #:
FL-03-83
Format:
Word;
Rich Text
Instant download
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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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FAQ
A life enhanced estate deed, more commonly called a ?Lady Bird Deed,? is one of the best kept secrets for estate planning purposes. The lady bird deed in Florida allows you to avoid probate court, reserve powers to yourself, maintain Medicaid eligibility, and qualify for the Florida Homestead exemption.
What is the Florida Lady Bird deed? A Florida Lady Bird deed, formally known as an Enhanced Life Estate Deed, is designed to allow property owners in Florida to transfer property to others automatically upon their death while maintaining use, control and ownership while alive.
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).
Disadvantages of Lady Bird Deeds Therefore, a Lady Bird deed cannot be used to create a remainder interest in third parties without the consent and involvement of the life interest holder's spouse and children. (2) Title insurers are often skeptical to insure Lady Bird deeds in certain situations.
Please note that you will be responsible for signing and recording the deed independently. For a flat fee of $285, your committed document technician will draft your Lady Bird Deed, enabling you to smoothly sign and notarize it from the comfort of your home using our highly rated online notaries.