This includes the right to: Live in the property for lifeSell, lease, or mortgage the property at any time. Change the beneficiaries or revoke the deed without their consent
A Lady Bird Deed, officially known as an Enhanced Life Estate Deed is a type of deed that lets you pass your property directly to your family without probate after you pass away. They also allow owners to retain control over their property during their lifetime, including the ability to sell or mortgage the property without the beneficiaries’ consent.
How It Works
With a Lady Bird Deed, the current property owner transfers the property to themselves for life; with future ownership going to one or more named. However, unlike a traditional life estate deed, a Lady Bird Deed is enhanced, meaning the grantor keeps full control of the property while they’re alive.
This flexibility makes it far more appealing than a standard life estate deed, where such decisions would typically require beneficiary approval.Key Benefits of a Lady Bird Deed
Avoids Probate: Upon the owner’s death, the property passes automatically to the named beneficiaries without going through the probate process. Retains Full Control: The owner can sell, refinance, or change the deed during their lifetime without involving the remaindermen. Maintains Homestead Protections: In Florida, Lady Bird Deeds can preserve the property’s homestead exemption status for tax and creditor protection purposes. Simple and Cost-Effective: It can often be executed with a single document, without the ongoing administrative costs of a trust.
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