Space above this line for recorder’s use only LADY BIRD DEED

If the beneficiaries get along well, this issue is negligible.ĭownload: PDF, Word (.docx), OpenDocument Once the property has been conveyed to the beneficiaries, all would need to be in agreement in order to dispose of the property. Can cause issues for multiple beneficiaries.Any other assets owned by the grantor must be passed down by using traditional tools such as a will or trust.

The convenience provided by the form only applies to real estate. Because a lady bird deed skips the probate process, it also avoids any claims made by the state to attempt to collect money owed for Medicaid treatment the owner may have received. The owner does not need to receive permission from the beneficiary named in the deed. Should the owner want to sell or rent out the property, they can do so freely. Owner retains power over the property.While there may still be a probate process to distribute other assets of the owner’s estate, they can rest easy knowing the real estate indicated in the lady bird deed won’t be involved. Because the property is transferred immediately after the owner’s death, the property effectively “skips” the probate process. It can also be referred to as an “enhanced life estate deed,” where the “life estate” portion refers to the fact that the deed doesn’t alter the owner’s possession of the property in any manner while they are alive. As a type of estate planning tool, it is commonly used in conjunction with wills, revocable trusts, and other forms. Transfer on Death Deed: An alternative to a Lady Bird Deed that is offered in twenty-nine (29) states.Ī ladybird deed is a legal document used for passing down property without requiring the beneficiary (grantee) to go through probate.

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