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What Is a Lady Bird Deed and Which 5 States Have Them? What is a lady bird deed? A lady bird deed, or an enhanced life estate deed, allows a homeowner to automatically transfer their home to their beneficiaries without going through probate
What Is a Lady Bird Deed? Its Purpose and Which States Allow It A Lady Bird deed also allows the grantor to live on the property until their death and then transfers it to the grantee What makes a Lady Bird deed different is that the grantor retains the right to sell or mortgage the property The grantor's interest is called a life estate, and the grantee's interest is called a contingent remainder
What Is a Lady Bird Deed in Estate Planning? | Trust Will A Lady Bird deed triggers a transfer that comes with a new tax assessment and can potentially increase property taxes considerably What is the Difference Between a Ladybird Deed and a Transfer on Death Deed?
Lady Bird Deeds: Common Questions Answered A lady bird deed is a legal instrument used in estate planning to transfer property to beneficiaries while allowing the grantor to retain control and use of the property during their lifetime This unique document provides certain advantages, combining traditional life estate deed elements with additional flexibility: In a lady bird deed, the property owner (grantor) designates one or more