Can you tell me where I can find a Texas Ladybird deed or Texas Enhanced life estate deed on line. I would like to see the form.
Welcome to Mortgagefit forum.
Ladybird deed or Enhanced life estate deed can be used to avoid probate procedure.
Let me explain how it works.
Owner(s)/grantor(s) of the house make a deed and name his beneficiaries as grantee(s). With such a deed the person retains a life estate upon the property with the right to sell the said property any time he likes. By making the deed:
Ownership remains with the grantors,
The grantors retains the right to revoke the deed at any time and
If the property is not sold during the lifetime of the grantors, then it passes on to the named grantees without the need for a probate after the death of the last grantor.
Let me know if you have any other question about this type of deed.