The Texas Lady Bird Deed (LBD) form is a document that allows the grantor property management rights while retaining full ownership until their death. Technically, there are no statutes that control or regulate this paper completion and related matters, but the Texas case law can be implemented to resolve them. Learn more about this in our guide: https://formspal.com/deed-forms/.
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If you want to give your property to someone else after your death while avoiding the probate procedures, you can fill out and file this form. It will not limit you to such activities as sale, mortgage, and other financial manipulations with the property. Also, you will not need to coordinate with the grantee to get permission for sale or receiving interest before death. You will be able to terminate a Lady Bird Deed agreement at any time you want by filling out the cancellation form.
There are several benefits of having a customized Texas LBD form:
All Texas residents and estate owners are eligible to complete this form. In many US states, it is impossible to have such an agreement except in Texas and four other states.
There are no state laws controlling the execution of LBD forms, which is one of the main disadvantages of the Texas Lady Bird Deed Form. Courts apply the Texas case law while making decisions about these agreements, but there are very few cases in the state. That is why the court can implement unexpected decisions to some conflict situations connected with Lady Bird Deed in Texas.
The grantor must sign the LBD form under the control of a licensed notary. It is not a strict rule, but if the grantor dies, there should be a legal confirmation that the form was signed by both the receiver and the grantor.
The same situation as with signing is applicable for recording. You will not have problems if you do not record the form during the grantor’s life. However, it is required to have a legal record in the Texas County Clerk’s Office to prove the lawfulness of the form.
Completion of the Lady Bird Deed in Texas is affordable if you can do it yourself. The price for recording equals approximately $30. In most cases, people hire a lawyer to fill out the form and manage all aspects connected with Texas law. It is a preferable option because there are no strict rules for building a Lady Bird Deed in Texas, and you can make mistakes while doing it yourself. Attorney services can cost about $300. By paying this fee, you will be sure that the court will not cancel your deed agreement, and you will not have any issues with its implementation.
The form is also known as Enhanced Life Estate Deed.. The form is easy to complete, but here is a short guide on filling it out. We also have software that can build the form for you on our website. Use it if you want to save time and avoid mistakes during the completion process.