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Florida Enhanced Life Estate or Lady Bird Deed - Quitclaim -...

Hialeah Florida Enhanced Life Estate or Lady Bird Deed - Quitclaim - Individual to Individual

Name: Hialeah Florida Enhanced Life Estate or Lady Bird Deed - Quitclaim - Individual to Individual
Brand: US Legal Forms
Rating: 4.61 (241 reviews)

Category:

Florida Real Estate - Deeds - Enhanced Life Estate or Lady Bird

State:

Florida

Control #:

FL-01-82

Format:

Instant download

Description

This form is an Enhanced Life Estate Deed where the Grantor is an individual and the Grantee is an individual. Grantor conveys the property to Grantee subject to a retained enhanced life estate. Further, the Grantor retains 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.

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FAQ

Can a Florida Quit Claim deed be recorded after death? Generally any deed can be recorded at any time even after the death of the grantor.

Yes, it should. In Florida, the clerk of court is responsible for recording deed transaction. When the transaction is recorded, it provides notice to others that the transaction occurred. And notice can be very important if there is a dispute later over the property.

Disadvantages of a Lady Bird Deed If you plan to apply for a mortgage on the property, some title insurance companies may be reluctant to provide title insurance on property subject to a Lady Bird deed. You want to leave the property to more than one grantee. There is a fairly large mortgage balance on the property.

The most effective way to revoke a Florida lady bird deed is to transfer your property to a third party. It is unclear whether you are allowed to transfer the property back to yourself.

Lady bird deeds do not result in any documentary stamp taxes when you execute the deed. In Florida, you are required to pay documentary stamp taxes on the transfer of real estate for any consideration, including the amount of any mortgage on the property.

This fee is typically $27.70.

Our eRecording fee does not include the fee charged by the clerk of court to record your deed in the official records. This fee is typically $27.70....You bet. Here's how you'll save: ServiceFeePrepare Lady Bird Deed$125Prepare Lady Bird Deed + Online Notarization + Witnesses$2001 more row

This fee is typically $27.70. Payment by credit/debit card incurs a 3.49% + $0.49 convenience fee....You bet. Here's how you'll save: ServiceFeePrepare Lady Bird Deed$125Prepare Lady Bird Deed + Online Notarization + Witnesses$200Prepare Lady Bird Deed + Online Notarization + Witnesses + e-Recording$225

The Florida lady bird deed (also called an enhanced life estate deed) is not the same thing as a quitclaim deed. However, it is possible for a single deed to be both a lady bird deed and a quitclaim deed.

Disadvantages to lady bird deeds in Florida include: Lack of Asset Protection. A creditor of the current owner may place a lien on the property, other than a homestead, conveyed by a lady bird deed. Constitutional Restrictions.Unexpected Deaths.Changes to the Estate Plan.

Hialeah Florida Enhanced Life Estate or Lady Bird Deed - Quitclaim - Individual to Individual

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FAQ

Can you file a quit claim deed after someone dies in Florida?

Does a Lady Bird deed have to be recorded in Florida?

What are the drawbacks of a Lady Bird deed?

Can a Lady Bird deed be revoked in Florida?

Do you pay taxes on a Lady Bird deed in Florida?

How much does a ladybird deed cost in Florida?

How much does it cost to file a Lady Bird deed in Florida?

How much does it cost to record a Lady Bird deed in Florida?

Is a quit claim deed the same as a lady bird deed in Florida?

What are the disadvantage of a Lady Bird deed in Florida?

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