This form is a Quitclaim Deed with a retained Enhanced Life Estate where the Grantors are two individuals or husband and wife and the Grantee is an individual. It is also known as a "Lady Bird" Deed. Grantors conveys the property to Grantee subject to a retained enhanced life estate. The Grantors 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.
Enhanced Life Lady For The Future
State:
Michigan
Control #:
MI-03-82
Format:
Word;
Rich Text
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An Enhanced Life Estate Deed, also commonly known as a Ladybird Deed, is a Quitclaim Deed that helps you transfer your property to another within your lifetime. An enhanced life estate deed or "Lady Bird" deed is used in some areas to streamline the transfer of property ownership.A lady bird deed, also called an enhanced life estate deed, lets you pass your property passes down without going through probate. A Lady Bird Deed is an estate planning tool that enables a Medicaid beneficiary to protect their home from the Medicaid Estate Recovery Program. Enhanced life estates are also about protecting property and its eventual recipient from creditors after the death of the owner. Learn how a Lady Bird Deed and Transfer on Death Deed can help you avoid probate in Texas while ensuring control over your property. In Florida, a lady bird deed is a legal form that transfers property upon death inexpensively and without probate. Prepare for longterm care coverage without worries using a Lady Bird Deed. Explore how Lady Bird Deeds work and plan for your future. One way to avoid probate in Florida without using a revocable living trust is through creating an Enhanced Life Estate deed (also known as a "lady-bird" deed).