Lady Bird Deed
Florida Lady Bird Deeds
A Florida lady bird deed is a unique type of property deed that allows real property owners to control and retain use of their property during their lifetime, and then automatically transfer the property to named beneficiaries upon their death. Although this can be done through the probate courts, a lady bird deed avoids the probate process, which is often lengthy and costly. The lady bird deed also offers other very valuable benefits!
Florida Lady Bird DeedFLAT FEE *
*Includes recording fee.
Important Roles in a Florida Lady Bird Deed
Lady bird deeds deal with three parties – the grantor, the grantee and remainderman. The grantor is the current owner of the real property. The grantee (the life estate holder), is the person who will use and control it during their lifetime (usually the grantor but can be someone else). The remainderman is the beneficiary who will inherit and take control of the property automatically upon the grantee’s death. Keep in mind that a grantor, grantee or remainderman can be one or more individuals, or even entities if so desired.
Life Estate Deeds are NOT Lady Bird Deeds
With a typical Life Estate deed, the owner of the property retains control of it during their life. The remainderman will own the property upon the death of the Owner (life estate holder). But the life estate holder cannot mortgage, sell or otherwise encumber the property without the consent of the remainderman.
A Lady Bird deed allows the life estate holder to sell or mortgage the property during their lifetime or even revoke the Lady Bird deed without the consent of the remainderman. It is important to distinguish that while all lady bird deeds will create a life estate deed, not all life estate deeds will create a lady bird deed.
Difference Between Lady Bird Deeds and Quitclaim Deeds
Many people mistake lady bird deeds and quit claim deeds for each other, but the two are very different. A lady bird deed allows property owners to use their property during their lifetime before transferring ownership to an heir. Quitclaim deeds, on the other hand, transfer all title and ownership rights to the grantee immediately.
Get Your Lady Bird Deed in Florida Today
Lady bird deeds are a great way to enjoy your property during your lifetime and allow your heirs to take over ownership without having to first go through the lengthy probate process. If you want to protect the future of your family, fill out the form below to complete your Lady Bird deed or contact us with any questions.
Prepare Your Florida Lady Bird Deed
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