Lady Bird Deed Vs Quit Claim Deed. Lady Bird deeds may be quit claim deeds warranty deeds or special warranty deeds. A lady bird deed also called a ladybird deed or an enhanced life estate deed is a special form of life estate deed that gives the owner continued control over the property until his or her deathOnce the owner dies the property is transferred automatically to new owners without the need for probate.
Lady Bird deeds may be quit claim deeds warranty deeds or special warranty deeds. Ability to Name Contingent Beneficiaries. However its a Quick Claim Deed is it Not.
A Lady Bird Deed allows property owners to create a transfer of real estate that does not become effective until their death.
It states it Gives My Mother life Tendency. In simple terms a life estate is a form of co-ownership in a piece of property and a deed is a document that legally transfers the property from one owner to another. This estate planning instrument allows a property owner to maintain control over their property while alive and transfer it to heirs upon their death. The property owner retains all rights to the property during his or her lifetime including the right to sell the property or change the person who will receive the property at his or her death.