Lady Bird Johnson Deed Texas

Lady Bird Johnson Deed Texas. When the Lady Bird deed is signed there is no value transferred hence there is. And the other theory is that it was actually a Florida lawyer who first created the ladybird deed sometime in the 1980s and to explain the concept he simply used the names of President Johnson and his family to explain how it worked and the name just kind of stuck that way.

This form is also known as a Lady Bird Deed. A lady bird ladybird deed also called an enhanced life estate deed lady bird trust or a transfer on death deed is a type of life estate deed. No one can confirm this for sure but nevertheless the colorful name stuck.

Finally if youre wondering how the deed got its odd name its not because President Lyndon Johnson ever used this kind of deed to transfer property to his wife Lady Bird.

This form is also known as a Lady Bird Deed. Lady Bird deeds are used most often as part of a plan to protect a homestead from a Medicaid Estate Recovery claim. 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. When the Lady Bird deed is signed there is no value transferred hence there is.