Are you looking to transfer ownership of your property to a beneficiary of your choice? Do you want to avoid the lengthy and costly process of probate? Look no further than a beneficiary deed!
A life estate deed is a type of deed that allows an individual to transfer ownership of a property to another person, while retaining the right to use the property for their lifetime. This type of deed is often used in situations where an individual wants to transfer ownership of a property to a family member or friend, while still retaining the right to use the property.
So, why should you consider a life estate deed? Here are some benefits to consider:
Flexibility: A life estate deed allows you to transfer ownership of a property to another person, while still retaining the right to use the property.
Tax Benefits: A life estate deed can provide tax benefits, as the transfer of ownership is considered a gift rather than a sale.
Protection: A life estate deed can provide protection for the individual transferring ownership, as they retain the right to use the property for their lifetime.
To qualify for a life estate deed, you'll need to meet the following requirements:
Clear Title: The property must have a clear title, free of any liens or encumbrances.
Accurate Information: All information on the deed must be accurate and up-to-date.
Compliance with Local Laws: The transfer must comply with local laws and regulations.
The process of a life estate deed typically involves the following steps:
Deed Preparation: A new deed is prepared, transferring ownership from the current owner to the new owner.
Recording: The deed is recorded with the local government, officially transferring ownership.
So, where can you find services that offer life estate deeds? Here are a few options:
Elder Law Firms: most elder law firms offer life estate deed services.
Real Estate Associations: Local real estate associations, such as the National Association of Realtors, may also offer life estate deed services.
Document Preparation Services: Doc prep companies like Noble Notary offer a variety of life estate & other deeds.
Here are some tips to keep in mind when considering a life estate deed:
Plan Ahead: Make sure to plan ahead and allow enough time for the transfer process.
Gather Documents: Gather all necessary documents, including the deed and title insurance policy.
Work with a Professional: Work with a professional, such as our legal document preparers, to ensure a smooth transfer process.
DIY Ladybird Deed Forms: Florida's most in-demand deed for seamlessly transferring property upon death. Download $18
DIY QuitClaim Deed Forms: Add or remove a property owner as a title holder. Download $10
Prices: Preparation only-$175. Preparation + Mobile Notary $300. Preparation, Notary & Witness (FL LAW REQUIRES ON ALL DEEDS) $350.
We can prepare life estate deeds, and enhanced life estate deeds and furnish a mobile notary to assist in execution. We can also assist with recording of deeds in Public Records!
Call: 1-321-283-6452 To Book A Mobile Notary for Notarized & Witnessed Deeds or other Deed forms!