Jacksonville Lady Bird Deeds
A Jacksonville lady bird deed is unique from most other types of property deeds. Through a lady bird deed, a property owner can retain the use of their property, and maintain total control over it, throughout their lifetime. Upon the property owner’s death, a lady bird deed will then allow the property to immediately and automatically transfer to certain heirs or beneficiaries. People sometimes use a will to transfer property but the problem with that is that wills must pass through the probate court, which is a lengthy and costly process. A Jacksonville lady bird deed lawyer at My Florida Deed can help you avoid the probate process with a Jacksonville lady bird deed.
The Grantor and Grantee in Jacksonville Lady Bird Deeds
Like most deeds, a Jacksonville lady bird deed will determine two important roles – those of the grantor and the grantee. The grantor is the existing owner of the property and the person who will maintain control over the property during their life. The grantee, on the other hand, is the individual the property will be transferred to in the event the grantor passes away. Grantees are also sometimes referred to as the remainderman in lady bird deeds because they will take control over the remainder of the property.
What is a Life Estate Deed?
In a standard life estate deed, the grantor still controls the property throughout their lifetime, and the remainderman will take control over the remaining property upon the grantor’s death. This is what differentiates lady bird deeds from other life estate deeds. Through a lady bird deed, the grantor has full control over the property during their life and can do whatever they want with it, including selling it. This is not possible with other life estate deeds. For this reason, all lady bird deeds contain a life estate provision, but not all life estate deeds are considered lady bird deeds.
What is a Transfer on Death Deed?
Transfer on death deeds, also known as TOD deeds, are also contained within lady bird deeds. A TOD deed will automatically and immediately transfer the property title to the grantee after the grantor’s death. Again, TOD deeds are sometimes used in place of a last will and testament to transfer property to heirs because while a will must go through the probate courts, a TOD deed does not.
In Florida, TOD deeds are not legal on their own, as the state does not recognize the Uniform Real Property Transfer on Death Act. However, a lady bird provision is a very appropriate way to get around this fact and still transfer property after a grantor’s death.
Call Us for Your Help with. Your Lady Bird Deed in Jacksonville Today
If you have property that you would like to transfer to an heir or beneficiary in the future, our attorneys at My Florida Deed can help you avoid the probate process with a Jacksonville lady bird deed. We can provide the form you need, and will ensure the deed is recorded and executed properly so neither you nor your family face any issues. Call us today at 407-205-2906 or contact us online to get the important information you need.