With a Lady Bird Deed, the owner of the property, referred to as the “Life Tenant,” retains complete control over the property during his or her lifetime.
The Life Tenant has the right to mortgage or sell the property without the consent of the heirs or beneficiaries named in the Deed because the property does not actually transfer until the death of the Life Tenant.
Upon the passing of the Life Tenant, the beneficiaries will file the death certificate in the public records, which is all that is needed in order for title to pass to them.
Florida Lady Bird Deeds can be used to avoid probate and to transfer property at death without some of the drawbacks of a standard life estate deed or joint ownership.
At the time of the Life Tenant’s dead, the property automatically transfers outside of probate to the Life Tenant’s beneficiaries.
The flexibility of the Lady Bird Deed, together with the Life Tenant’s unrestrained ability to control the property during their life, make Lady Bird Deed, also known as an “Enhanced Life Estate Deed,” a powerful tool for estate planning in Florida.
For more information on Lady Bird Deeds, contact us at:
☎️ (786) 396-9929