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Florida enhanced life estate

Florida enhanced life estate 2026

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The document is a Florida Enhanced Life Estate Quitclaim Deed, also known as a Lady Bird Deed, which outlines the transfer of property between two individuals or couples. It provides instructions on completing the forms, explains how property can be held by grantees (including Tenants in Common, Joint Tenants with Right of Survivorship, and Tenants by the Entirety), and includes disclaimers regarding the legal use of the forms. The deed allows grantors to retain a life estate while transferring ownership to grantees upon their death.

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Click ‘Get Form’ to open the Florida Enhanced Life Estate Quitclaim Deed in the editor.
Begin by entering the names and addresses of the Grantors at the top of the form. Ensure that all information is accurate to avoid any legal issues.
Next, specify how the Grantees will hold the property. Choose from options like Tenants in Common, Joint Tenants with Right of Survivorship, or Tenants by the Entirety based on your situation.
Fill in the legal description of the property in Exhibit A. This is crucial for identifying the specific land being conveyed.
Complete any additional sections regarding reservations and limitations to conveyance, ensuring you understand your rights as a life tenant.
Finally, have all parties sign and date the document in front of a notary public to finalize your enhanced life estate deed.

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What are the benefits of an enhanced life estate deed in Florida?

A Florida Enhanced Life Estate Deed can help avoid probate, speed up the transfer of a property upon death, maintain the ability to use the fair market value of the property at the time of death as a cost basis (lowers income taxes upon sale), and maintain Medicaid eligibility.

What are the requirements for a life estate in Florida?

To create a life estate deed in Florida, you must draft a deed that names both the life tenant and the remainderman, include a legal property description, and specify the retained and transferred rights. The deed must be signed with two witnesses, docHubd, and recorded with the county clerk in the propertys county.