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An enhanced life estate deed, often referred to as a “Lady Bird” deed, is a legal document utilized in some areas to streamline the transfer of property ownership. ... in Texas, the deed is a ...
The first step in creating a ladybird deed is making sure you're able to do so under your state's laws. Again, the states that allow enhanced life estate deeds are Florida, Texas, Michigan ...
The ownership of a life estate is of limited duration because it ends at the death of a person. Its owner is the life tenant (typically also the 'measuring life') and it carries with it right to enjoy certain benefits of ownership of the property, chiefly income derived from rent or other uses of the property and the right of occupation, during his or her possession.
My mother has property that there is two moblie homes on the property, one in her name and the other in my name, her moblie home was put on the ground in 1977, my home was put there in 1995, then in 2004 my dad died thus the property went to my mother, then in 2004 I paid her money for the property and she put my name on the deed along with my ...
A reversion in property law is a future interest that is retained by the grantor after the conveyance of an estate of a lesser quantum than he has (such as the owner of a fee simple granting a life estate or a leasehold estate).
A ladybird deed, also referred to as an enhanced life estate, allows for the transfer of property to someone else while retaining control of the property. This type of deed can be used in ...