A life estate deed, sometimes referred to as a “Lady Bird Deed,” is a legal document used in estate planning to transfer real estate property while allowing the grantor (the person transferring the property) to retain the right to use and live in the property for the duration of their life. This type of deed is more flexible than a traditional life estate deed because it permits the grantor to change their mind and sell, mortgage, or otherwise transfer the property during their lifetime without needing the consent of the remainder beneficiaries (those who will inherit the property after the grantor’s death).

It is advisable to consult with a qualified attorney to ensure that the Life Estate Deed is drafted correctly and that all requirements are met.

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