This is a Basic Lady Bird Deed. A Lady Bird Deed is a transfer of property to another with a reservation of a life estate. Meaning a person can transfer property and retain ownership in that property until death, at which point it will then transfer to the other.
While it's not strictly necessary, having a lawyer can be a big help to ensure everything's done right and that you understand how it all works.
You can name anyone you like! It could be family, friends, or anyone you trust to take over the property when you’re no longer around.
Nope! A Lady Bird Deed typically won’t change your property taxes, since you still own the property during your lifetime.
Not quite! A Lady Bird Deed has special features that allow you to retain certain rights, while a regular deed transfers full ownership right away.
Yes, you can change or revoke a Lady Bird Deed anytime while you are still alive, just like flipping a pancake when it's not cooked yet!
Using a Lady Bird Deed can help avoid probate, which means your heirs won’t have to go through a lengthy legal process to take ownership after you pass away.
A Lady Bird Deed is a type of property deed that allows you to transfer ownership of real estate to someone, but you can still live in the property for as long as you want.