Welcome to the part 1 of our 5-part series answering frequently asked questions about Enhanced Life Estate Deeds in Florida. This video aims to provide a detailed introduction to the basics of a Enhanced Life Estate Deeds in Florida.
➡️ An Enhanced Life Estate Deed, also referred to as a Ladybird Deed, is a form of Quitclaim Deed that helps an owner transfer ownership of real property to another within the owner’s lifetime without giving away the owners right to live in, mortgage, or sell the property. Upon the owner’s death, the property automatically transfers to a predetermined beneficiary known as a remainderman without going through probate.
➡️Currently, Florida, along with four other states (MI, TX, VT, and WV) allow ownership of Real Property to be transferred via an Enhanced Life Estate Deed.
➡️ One of its advantages is that the grantor can revoke it at any time during their lifetime, without needing consent from the beneficiaries.
This video serves as a starting point to understanding of the basics of Enhanced Life Estate Deeds in Florida. We invite you to continue watching the rest of the series to delve deeper into this topic and explore its various facets.
Note: While this video series is intended to be informative, it does not replace professional legal advice. If you find yourself in a situation needing legal counsel, we strongly recommend seeking out professional guidance.
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Welcome to the Official YouTube Channel of Florida Real Estate Lawyer, your trusted source for expert insights on various topics concerning Florida Real Estate Law.
Presented by The Law Office of Stephen K. Hachey, P.A., a Tampa-based firm with over 17 years of experience in real estate law, we strive to break down complex legal concepts such as Partitions, Title Insurance, and more into understandable language for all.
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