7/27/2019 Free Lady Bird Deed Form

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Free Lady Bird Deed Form

Are you looking for a lady bird deed template? Then grab your free form here plus soak up the must-knowfacts before inking it.

Before Using Our Free LadyBird Deed Form, You Should Know These Facts

So where did this deed get its curiously-cute name from? According to popular folklore, U.S. PresidentLyndon Johnson once made use of this deed to transfer some property to his wife Claudia "Lady Bird"Johnson. No one canconfirmthis for sure, but nevertheless the colorful name stuck. It's helpful to knowthat this deed is also known as an enhanced life estate deed.

In plain English, a ladybird deed allows you (the grantor) to 1. leave behind your property to yourbeneficiaries while avoidingprobate 2. stay in the property as long as you are alive 3. sell, mortgage orgive the property to someone else without your beneficiaries' permission. Point 3 is what makes this deeddifferent (and safer for the grantor) vs. a regularLife Estate Deed.

Now to answer the question that matters most: What are the benefits of lady bird deeds? 1. Avoidprobate (quick and painless property transfer after death) 2. Property is inherited at a stepped-up basis(no capital gains tax) 3. Property is protected from the grubby hands of your beneficiaries' creditors (no

liens, no claims, no worries).

If you live in California CA, Florida FL, Texas TX, Michigan MI, Ohio OH or Kansas KS, then you are inluck - These states embrace ladybird deeds with open arms. If you live elsewhere, then it's time for you tomeet a beneficiary deed (which performs almost the same magic). To learn more,Click here for our freeBeneficiary Deed Form.

* While we work hard to make sure that our free enhanced life estate deed form is helpful and updated,you must edit it according to your own needs and localreal estate law. Always seek legal help when indoubt.

Lady Bird Deed

This Deed is made on this day of _______________, 20__, between the Grantor ______________________________ of address __________________________________________________ andthe Grantee Beneficiary ______________________________ of address __________________________________________________.

For good and valuable consideration paid by the Grantee Beneficiary, the receipt of which is herebyacknowledged, the Grantor does transfer and convey the following described property to the GranteeBeneficiary effective on the Grantor's death:

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7/27/2019 Free Lady Bird Deed Form

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Property Address: ______________________________________________________________

Legal Description: ________________________________________________________________________________________________________________________________________________________________________________________________________________________

The Grantor reserves a life estate for himself/herself during the Grantor's lifetime coupled with anunrestricted power to convey during the Grantor's lifetime, which includes the power to sell, gift,mortgage, lease and otherwise dispose of the property, and to retain the proceeds from the conveyance.

EXECUTED this day of _______________, 20__.

Grantor Name: _________________________

Grantor Signature: ______________________

STATE OF _________________________

COUNTY OF _________________________

On this day, personally appeared before me, _________________________, to me known to be theperson(s) described in and who executed the within instrument, and acknowledged that he/she signed thesame as his/her voluntary act and deed, for the uses and purposes therein mentioned.

Witness my hand and official seal hereto affixed on this day of _______________, 20__.

Notary's Public Signature: ______________________

My commission expires _______________.

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