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In Florida, a property owner technically can prepare their own Lady Bird deed (also known as an Enhanced Life Estate Deed). This type of deed allows the grantor (the person who owns the property) to maintain control over the property during their lifetime, including the right to use the property, sell it, or lease it, and the property automatically transfers to the designated recipient (the remainderman) upon the grantor's death without having to go through probate.
It's generally not advisable to do this without legal expertise. The preparation of a Lady Bird deed requires a precise understanding of Florida property law and estate planning law. These types of deeds are complex legal documents, and if not properly prepared and executed, they may not achieve the desired outcome and can potentially create legal complications or tax implications.
Furthermore, Florida law on Lady Bird deeds has specific requirements that must be met, including the language used in the deed and how the deed is executed and recorded. Failure to meet these requirements can result in an invalid deed.
If you are interested in creating a Lady Bird deed, it is strongly recommended to consult with a Florida estate planning attorney or a real estate attorney who is familiar with these types of deeds. They can guide you through the process, making sure the deed is correctly prepared, executed, and recorded in accordance with Florida law.
Again, keep in mind that drafting legal documents without a legal background can be risky. Even a small error or misunderstanding can lead to significant issues. Legal advice is crucial in such situations to prevent any potential issues or disputes.
Published: Nov 8, 2022
Updated: Dec 9, 2023
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