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Originally Posted by RoseyRed
Never heard of a lady bird deed! Will have to research that one! Thanks for the info!
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It’s a life estate deed. (Y currently gets the house., but X retains the right to live here until X’s death. Only then does X’s chosen beneficiary (Y);of the home take both ownership & possession of the house. Until X dies, X has full possession of the house.
In Fl, instead of Transfer on Death Deeds that other states enacted, Fl uses an enhanced Lady Bird Deed where the owner retains the right to live there til death and at owner’s death the beneficiary owns it.
Fl appears to be allowing original owner to retract that Lady Bird deed and change the specified beneficiary to receive the home. Odd, to me, as orig owner only retained the right to reside & maintain property but apparently, in an Enhanced Lady Bird it appears to allow X to change their prior designation of beneficiary of the home and name another.
Check with your local Estate Attorney to ensure you understand fully how the enhanced Lady Bird Deed works & whether you can change the initial beneficiary you named.
IMHO, it Needs simple, clear Transfer on Death Deeds to be approved in Fl. for real estate.