Enhanced Life Estate Deed also known as the "Lady Bird Deed" (named after the former first lady LadyBird Johnson)
Unlike a quit claim deed, which people usually tend to use for the same purpose, the Enhanced Life Estate Deed actually has many great benefits (1) It allows our client to sell or encumber (e.g. mortgage) his property without the consent of his beneficiaries. (2) No creditors of his beneficiaries could obtain an enforceable lien against his home. (3) No spouses of his beneficiaries could claim an interest in the property, either upon their death or in the event of a divorce. Unfortunately, those are all pitfalls that come with a quit claim deed which many people are not aware of. There are also more benefits to a Lady Bird Deed.
There are only a few states which accept this form of property transfer. Fortunately, the state of Florida is one of them. To learn more, contact us today for Top Rated Bilingual Estate Attorney Miami Real Estate Lawyers. The best in all Miami and Coral Gables Law Firms!
Marrero, Chamizo, Marcer Law, LP is a BBB A+ Accredited Business Law Firm conveniently located in the City of Miami near Coral Gables, steps from the Shops at Merrick off Bird Road on SW 38 Avenue at: 3850 Bird Road, #1001, Miami, Florida 33146. We offer a Free initial case review, Flexible Payment Plans, and convenient Free onsite parking. Come visit us today!
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