Enhanced Life Estate

FLORIDA ENHANCED LIFE ESTATE QUITCLAIM DEED [LADY BIRD DEED]

[Two Individuals / Husband and Wife to Two Individuals / Husband and Wife]

Control Number: FL-04-82

I. TIPS ON COMPLETING THE FORMS

The form(s) in this packet may contain “form fields” created using Microsoft Word or Adobe Acrobat (“.pdf” format). “Form fields” facilitate completion of the forms using your computer. They do not limit your ability to print the form “in blank” and complete with a typewriter or by hand.

It is also helpful to be able to see the location of the form fields. Go to the View menu, click on Toolbars, and then select Forms. This will open the Forms toolbar. Look for the button on the Forms toolbar that resembles a shaded letter “a”. Click this button and the form fields will be visible.

By clicking on the appropriate form field, you will be able to enter the needed information. In some instances, the form field and the line will disappear after information is entered. In other cases, it will not. The form was created to function in this manner.

II. HOW THE GRANTEES WILL HOLD THE PROPERTY

In the State of Florida real property can be held by more than one person (concurrent estates) in the following ways:

A. If the Grantees ARE NOT married to each other, they can hold the property as:

1. Tenants in Common: a type of concurrent estate in which each party owns an undivided interest in the property that will pass to their heirs when the tenant in common dies. Generally their shares are “equal” but may differ in size.

2. Joint Tenants with the Right of Survivorship (JTWROS): is a type of concurrent estate in which co-owners have a right of survivorship, meaning that if one owner dies, that owner's interest in the property will pass to the surviving owner or owners by operation of law, and avoiding probate.

B. If the Grantees ARE married to each other, they can hold the property as:

1. Tenants in Common – See above

2. Joint Tenants with the Right of Survivorship – See above

3. Tenants by the Entirety - a type of concurrent estate formerly available only to married couples, where ownership of property is treated as though the couple were a single legal person. Like a JTWROS, the tenancy by the entirety also encompasses a right of survivorship, so if one spouse dies, the entire interest in the property passes to the surviving spouse, without going through probate.

C. In the attached deed, the preparer will need to indicate how the Grantees will hold the property: as Tenants in Common; Joint Tenants with Right of Survivorship; or, Tenants by the Entirety.

D. For additional information on the above see the definitions at:

http://lawdigest.uslegal.com/

E. For example:

“as Tenants in Common , subject to”

III. DISCLAIMER

These materials were developed by U.S. Legal Forms, Inc. based upon statutes and forms for the State of Florida. All information and Forms are subject to this Disclaimer:

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ENHANCED LIFE ESTATE QUITCLAIM DEED

[Two Individuals / Husband and Wife to Two Individuals / Husband and Wife]

This Indenture, made the day of , 20 by

GRANTORS:

,

whose address is , and

,

whose address is ,

individuals and

GRANTEES:

,

whose address is and

,

whose address is ,

individuals.

WITNESS: That the GRANTORS, for and in consideration of Ten Dollars and other valuable consideration, do hereby remise, release and quitclaim unto the GRANTEES,

as , subject to retained life estates in Grantors described further in the Reservations and Limitations to Conveyance, the following described land, situate, lying and being in County, Florida, to wit:

See Exhibit A attached hereto and incorporated by reference as though set forth in full

Legal Description:

RESERVATIONS AND LIMITATIONS TO CONVEYANCE:

1. It is the intention of the Grantors to create, in each of them, an Enhanced Life Estate reserving and preserving to the Grantors a life estate, for the term of his or her life, without any liability for waste and with full power and authority in said life tenants to sell, convey, mortgage, lease or otherwise encumber the described property.

2. The Grantors, and each of them, also reserves the right to cancel this conveyance and reconvey the property described , or otherwise manage and dispose of the property described during the Grantor’s lifetimes, in whole or in part, in fee simple, with or without consideration, without joinder of any remainderman , and with full power and authority to retain exclusively any and all proceeds generated thereby without liability for claims or debts of the remainderman.

3. Upon the death of the Life Tenant , the remainder, if any, will then be granted to the following Remaindermen an Undivided Interest in Equal Shares:

and , “Grantees”.

PRIOR INSTRUMENT REFERENCE: Book , Page , Document No. , of the Public Records of the Recorder of County, Florida.

EXECUTED this day of , 20

STATE OF FLORIDA, COUNTY OF

The foregoing instrument was acknowledged before me this day of , 20 , by , who is personally known to me or has produced as identification and who did/ did not take an oath.

STATE OF FLORIDA, COUNTY OF

The foregoing instrument was acknowledged before me this day of , 20 , by , who is personally known to me or has produced as identification and who did/ did not take an oath.

EXHIBIT A

Grantors:

Grantees:

Legal Description: