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A ladybird deed is a life estate deed that allows for the transfer of property during someone's lifetime without requiring the original owner to give up control of the property. Once the person ...
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. This deed simplifies the ...
The Mollie Steves Zachry Texas Arboretum, which was dedicated on April 30, 2011 and opened in the spring of 2012, displays all 53 species of oak trees that are native to Texas. [10] [11] In April 2012, Luci Baines Johnson, daughter of Lady Bird Johnson, and her husband Ian Turpin donated $1 million toward a family garden to be named in their honor.
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.
The deed first became available in Texas and was named after Lady Bird Johnson, wife of President Lyndon B. Johnson. The First Lady herself never used this estate planning strategy.
On June 7, 2008, Texas honored Lady Bird by renaming the state convention's Blue Star Breakfast as the 'Lady Bird Breakfast'. [107] In January 2009, St. Edward's University in Austin completed a new residence hall for upperclassmen bearing the name of Lady Bird Johnson Hall, or "LBJ Hall" for short. [108]