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My Florida Deed > Tampa Lady Bird Deeds

Tampa Lady Bird Deeds

Tampa lady bird deeds are quite unique. They allow property owners to keep, use, and control their property during their life and then designate it to a certain heir upon their death. Although this can be done through a will or other part of an estate plan, a lady bird deed allows people to avoid the probate process, which is sometimes long and costly. Within a lady bird deed, a grantor is named, who is the party that currently owns the property, and a grantee, who is the heir that will inherit the property after the owner’s death. Our Tampa lady bird deed lawyer at My Florida Deed can help with these and other types of deeds.

What is a Life Estate Deed in Tampa?

Generally speaking, owned property is considered ‘fee simple,’ which means the current owner has complete control and ownership of the property. If a person transfers the ownership rights through a deed with a retained life estate, the fee simple interest is then divided into two portions. The first is the life estate and the second is the remainder. The grantor within a lady bird deed will retain the life estate in the property. The grantee, also known as the remainderman, will own the remaining interest in the property.

What is a Transfer on Death Deed in Tampa?

Transfer on death deeds, also known as TOD deeds, are also written into lady bird deeds. These deeds state that upon the original owner’s death, the title to the property shall automatically transfer to the grantee named within the deed. While Florida does not recognize transfer on death deeds, a lady bird deed is an effective way to reach the same outcome.

Why is it Important to Avoid Probate?

Probate is a process that involves many steps. A person’s assets will pass through probate after their death and, when there is no will or trust in place, a probate judge will determine how they are distributed according to the intestacy laws of the state. During probate, it will also be determined if there are claims from creditors against the deceased individual or their assets. State law requires that attorneys are involved in the formal probate process.

Probate is an extremely time-consuming process, and it is also very costly. Many people want to avoid probation for these reasons, and a lady bird deed can help you do it. Due to the fact that a lady bird deed will also the property to automatically transfer to the grantee upon the grantor’s death, without the need for going through probate.

Let Us Help with Your Lady Bird Deed in Tampa

Lady bird deeds are very helpful, particularly in Florida, a state that does not allow for many other forms of transferring assets upon a person’s death. If you need help with your Tampa lady bird deed, our attorneys at My Florida Deed can provide it. We have the quick forms you need and will ensure they are filled out properly and completely so you and your family are protected. Call us today at 407-205-2906 or fill out our online form to get the information you need.

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WARRANTY DEED

A Warranty Deed conveys property from the old owner (Grantor) to the new owner (Grantee) together with a guarantee that the Grantor has legal right, title, and interest in the property being conveyed and is authorized to do so. The warranty being given by the Grantor assures the Grantee that no one else has a valid ownership claim in the property. Essentially, it is the Grantor promising the Grantee that the Grantor is the only rightful owner of the property, and as such, the Grantor has the full authority to convey the property. This type of deed further provides a promise from the Grantor to the Grantee that the Grantor will defend against anyone who might come forward at any time in the future and try to make a claim that they had an interest in the property at the time of the conveyance to the Grantee.

This type of deed is generally used when consideration is being paid for the sale of the property between two unrelated parties.

Flat Fee: $175.00

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*Does not include Documentary Stamps, if required by the State of Florida

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Quit claim Deed

A Quit Claim Deed conveys any interest that the old owner (Grantor) may have in the property to the new owner (Grantee). Although this type of deed does successfully convey any interest the Grantor may have, it does not provide a warranty, or guarantee, to the Grantee that the Grantor had the legal right, title, and interest in the property to convey it. That is not necessarily to say that the Grantor does not have the legal right, title, and interest in the property being conveyed. It just relieves the Grantor from binding himself to a promise made to the Grantee regarding the property interest being conveyed.

This type of deed is generally used for the conveyance of property between related parties or when no consideration is being paid, such as for a gift or estate planning purposes. This type of deed is also commonly used for property transfers made in connection with a divorce.

Flat Fee: $175.00

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LADY BIRD Deed

A Lady Bird Deed is a unique form of deed created by statute in the State of Florida, and a powerful tool to avoid probate. With the Florida lady bird deed, you give yourself a life estate interest in your property and appoint remaindermen to become owners immediately upon your death. A life estate is a right to live in the property until your death. Remaindermen are like beneficiaries of your estate, who have a future ownership interest. What makes Florida lady bird deeds so valuable is that you retain full interest in the real property. As the life tenant you reserve for yourself the right to sell, encumber, and otherwise do as you please with the real estate during your lifetime, and without and knowledge or consent of the remaindermen. You may also change the remaindermen at any point in time or even revert the whole interest back to yourself.

Flat Fee: $175.00

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CORRECTIVE Deed

A Corrective Deed can be executed and recorded to fix any errors in the original deed, including those that are otherwise fatal to the validity of the prior deed, such as an improper legal description. If the original deed contains significant errors, a new deed must be executed. A corrective deed is required when a grantor transfers property he or she once owned but does not any longer, errors that exceed simple typos in significance exist in the deed, or the deed lacks sufficient witness(es) or a notary acknowledgment. Invalid deeds can be rendered valid again if a Corrective Deed is made a matter of public record. Doing so clarifies the intent of the original deed.

Flat Fee: $175.00

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