Would somebody describe the attributes of an Enhanced Live Estate Deed?

Hello Bob,

About Enhanced Life Estate Deeds:
This document will allow you to deed your home to your beneficiaries now and reserve for yourself a life estate interest ( the right to live in the home for the rest of your life).
This helps your beneficiaries because the property does not go into probate when you pass away. Instead, the property passes on directly to your beneficiaries without additional costs and administrative paperwork. A particular feature of the Enhanced Life Estate Deed is that it reserves to you the right to sell the property at any time without your beneficiaries' consent. You do not get that option with a Warranty Deed or Quitclaim Deed. Should you sell the property after executing an Enhanced Life Estate Deed the interest your beneficiaries have in the property is dissolved. It basically means that you can sell the property free and clear of any claims your beneficiaries might have on it under the Enhanced Life Estate Deed.

I hope that this helps to answer your question. Please let us know if there is still anything else that we may help you with.

Good luck. :D

Hi ricefarmer!

By an enhanced life estate deed, you can give your property to the beneficiaries and at the same time, you will reserve the rights to sell the property as well. You can check the following link to know more about enhanced life estate deed.

http://www.mortgagefit.com/know-how/ladybirddeed.html

Thanks.