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Florida Life Estate Deed

Florida Life Estate Deed

The Florida Life Estate Deed allows you to do two things:

(1) Transfer ownership of your property to your heirs when you pass away;

(2) Retain ownership of your property while you are alive.

 

This document is available for immediate download in

Microsoft Word® Format.

 

$14.99

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Primary Purpose

The primary purpose for executing a Florida Life Estate Deed is to transfer your property to your heirs without your heirs having to go through legal Probate Court proceedings which can be both time consuming and expensive.  This Deed allows you to name your heirs as owners of your property, but allows you to retain control of your property until you pass away.  When you pass away, your heirs simply record your death certificate in the public records and the property becomes theirs.

 

Benefits

The benefits of the Life Estate Deed include avoiding probate (mentioned above), and giving "peace of mind" to your heirs that changes to your Will won't effect ownership of the real estate included in the Life Estate Deed when you pass away.

 

Drawbacks

The drawback to the Life Estate Deed is that once the Life Estate Deed is executed, you cannot sell the property without the consent of the heirs named in the Deed.  If this concerns you, you may want to execute an Enhanced Life Estate Deed which allows you to sell your property without the consent of your heirs, but still avoid probate by naming your heirs in the Deed.

 

For more information, please visit: Florida Life Estate Deed or Florida Enhanced Life Estate Deed.