A Lady Bird Deed is a specific type of life estate deed. In a standard life estate, you (the life tenant) keep the right to live in and use the property until you die, after which it automatically passes to the remainderman. However, a standard life estate severely restricts your ability to sell or mortgage the property without the remainderman’s consent.
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Searching for a is a common first step for savvy homeowners. After all, why pay a lawyer $500 for a single page of paper? However, while Lady Bird Deeds are simple in concept, they are deadly in execution if done incorrectly. A Lady Bird Deed is a specific type of life estate deed
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