This form is a Quitclaim Deed with a retained Enhanced Life Estate where the Grantor is an individual and the Grantees are four individuals. It is also known as a "Lady Bird" Deed. Grantor conveys the property to Grantees subject to an enhanced retained life estate. The Grantor retains the right to sell, encumber, mortgage or otherwise impair the interest Grantees might receive in the future, without joinder or notice to Grantees, with the exception of the right to transfer the property by will. This deed complies with all state statutory laws.
Michigan Lady Bird Form With Two Points
State:
Michigan
Control #:
MI-06-82
Format:
Word;
Rich Text
Instant download
Description
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How to fill out Michigan Enhanced Life Estate Or Lady Bird Deed - Individual To Four Individuals?
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FAQ
A quit claim deed transfers ownership without making guarantees about the property title, while a lady bird deed provides more security. With a quit claim deed, the new owner could inherit potential title issues. However, a Michigan lady bird deed ensures that the owner retains rights during their lifetime and grants full ownership to beneficiaries after death, avoiding many risks associated with a quit claim.
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