Lady Bird Johnson Law. A Lady Bird Deed is another name for an enhanced life estate deed which allows a property owner to transfer property at death without the necessity of probate. Why is the ladybird deed called the ladybird deed.
The name Lady Bird deed derives from a hypothetical used by a Florida law professor to explain how enhanced life estates work. Named for the wife of United States President Lyndon Johnson the deed gives the owner continued rights to sell or use the property until death and ensures a smooth transfer to heirs. December 22 1912 July 11 2007 was an American socialite and the First Lady of the United States as the wife of the 36th President of the United States Lyndon B.
Signed into law by President Lyndon B.
A Lady Bird deed also known as an enhanced life estate deed is a way to transfer property to someone else outside of probate while retaining a life estate in the property. A lady bird deed also called an enhanced life estate deed is a type of American legal document that defines the rights of a property owner and heirs to the property. It is valid under Michigan Land Title Standard 93 pdf. 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.