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What are enhanced life estate deeds?

An Enhanced Life Estate Deed works by allowing the original owner of the property, known as the life tenant, to maintain full ownership of their property throughout their lifetime. This includes giving them the ability to both mortgage and sell the property without the beneficiary having a say over the decision.

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

Two deeds that are frequently mentioned in property transfers are the Lady Bird deed (also known as the enhanced life estate deed) and the quit claim deed. While both serve as methods for transferring property interests, they have distinct characteristics and applications.

What is the best deed to avoid probate?

One of the main benefits of the ladybird or enhanced life estate deed in Florida is that the deed permits the owner of the house to qualify for Medicaid in Florida and avoid probate. Medicaid is extremely hard to be eligible for in this state. The Medicaid applicant must pass a means test and an asset test.