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According to popular folklore, U.S. President Lyndon Johnson once made use of this deed to transfer some property to his wife Claudia "Lady Bird" Johnson. No one can confirm this for sure, but nevertheless the colorful name stuck. It’s helpful to know that this deed is also known as an enhanced life estate deed.
What is a lady bird deed? Also known as an enhanced life estate deed, this deed is a way to transfer property to someone else outside of probate.
A Lady Bird deed (called an enhanced life estate deed in Florida) is a relatively new form of deed that, like a traditional life estate deed, allows property to pass automatically to one or more designated recipients at death, without the need for florida probate. florida is one of only a handful of states that recognize Lady Bird deeds.
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Enhanced life estate deeds are also known by other names, such as “enhanced deeds” or “lady bird deeds.” Not all states allow enhanced life.
Also known as a Lady Bird Deed, the Enhanced Life Estate Deed is a special type of deed recognized only in Florida and two other states (Michigan and Texas). As the name suggests, it is an improvement over the common Life Estate Deed in one key way: the life tenant maintains complete control over the subject property for their lifetime.
Enhanced Life Estate Deeds, T.O.D. Deeds and Lady Bird Deeds in Florida Over the last twenty years or so, enhanced life estates have become an increasingly popular estate-planning tool in Florida. Created by the memorably named "Lady Bird deed" (or the less catchy "TOD deed"), the surge in popularity has mostly arisen from two helpful features.
The Grantor reserves a life estate for himself/herself during the Grantor's lifetime coupled with an unrestricted power to convey during the Grantor's lifetime,
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Enhanced Life Estate Deed. The florida enhanced life estate deed (sometimes called "The Lady-Bird Deed") is a tool designed to preserve the homestead for the benefit of the family at the last to die of the husband and wife, or upon the death of a single person.