Michael Scott, North Palm Beach County Real Estate (Seeking Employing Broker)

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Ambassador
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Fred Griffin presently on Leave of Absence
Fred Griffin Real Estate - Tallahassee, FL
Licensed Florida Real Estate Broker

       My late neighbor did a "Lady Bird Deed" prior to her passing away.  This was done in February of 2018.   The house is in Tallahassee (Leon County); the attorney who drafted the deed is in adjoining Wakulla County.   

    Here is a link to said deed.  Perhaps it will shed light on your question.

   Quit Claim Deed with Reserved Enhanced Life Estate

 

 

     

Aug 01, 2018 07:38 AM
Rainmaker
247,223
Lesley Wilson-VanGoethem
Innovative Realty Solutions Group - Winter Springs, FL
Residential Real Estate Broker Associate

Contact a PROBATE attorney.. They can answer for you.. Ladybird deeds are common here, but this is a legal question .,.. ( we cant interpret )

Aug 01, 2018 05:27 AM
Ambassador
1,960,118
Silvia Dukes PA, Broker Associate, CRS, CIPS, SRES
Tropic Shores Realty - Ich spreche Deutsch! - Spring Hill, FL
Florida Waterfront and Country Club Living

Michael, best to ask a real estate attorney or at least the title company you are working with. 

Aug 01, 2018 04:40 AM
Rainmaker
547,241
Peter Mohylsky, SoWal Is HOME.
Gulf Place @ 30A - Santa Rosa Beach, FL
Let me help you find your path to the beach.

You need legal advice here.  Well beyond the scope of this forum.  Your profile says you are an attorney.  Did they cover this in school?

Aug 01, 2018 04:11 AM
Rainmaker
1,026,812
Susan Haughton
Long and Foster REALTORS (703) 470-4545 - Alexandria, VA
Susan & Mindy Team...Honesty. Integrity. Results.

Since I had to Google the term "lady bird deed" (which sounds, I don't know, just so quaint), I'm not the one to give a knowledgable answer, but I do appreciate the opportunity to learn something new today. 

Aug 01, 2018 06:01 AM
Rainmaker
3,217,689
Michael Jacobs
Pasadena, CA
Los Angeles Pasadena 818.516.4393

This is probably too specific a question for this section. 

Aug 01, 2018 05:45 AM
Rainmaker
2,859,827
Richard Weeks
Dallas, TX
REALTOR®, Broker

Sounds like a great question for a Florida real estate attorney.

Aug 01, 2018 04:05 AM
Rainmaker
2,942,974
Nina Hollander
Coldwell Banker Residential Brokerage - Charlotte, NC
Your Charlotte/Ballantyne/Waxhaw/Fort Mill Realtor

What you are asking is all Greek to me! Plus it sounds like a legal question, which should be posed to an attorney and not to real estate agents as we are not allowed to "practice law."

Aug 01, 2018 04:05 AM
Rainmaker
1,133,114
Joyce Marsh
Regal | Christie's International Real Estate - Orlando, FL
Regional Manager Regal Christie's Int'l Realty

This is a question for a Florida Real Estate Attorney. 

Aug 01, 2018 07:04 AM
Rainmaker
4,796,425
Gabe Sanders
Real Estate of Florida specializing in Martin County Residential Homes, Condos and Land Sales - Stuart, FL
Stuart Florida Real Estate

I have no idea what a ladybird deed is.

Aug 01, 2018 06:52 AM
Rainmaker
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Barbara Todaro
RE/MAX Executive Realty - Franklin, MA
Marketing Agent for The Todaro Team

either this is beyond my paygrade, or you're on crack.... pick your poison!

Aug 01, 2018 05:16 AM
Rainmaker
525,189
Dave Halpern
Keller Williams Realty Louisville East (502) 664-7827 - Louisville, KY
Louisville Short Sale Expert

Sounds like a question for an attorney in Florida. 

I suggest you contact , Florida attorney

Aug 01, 2018 04:19 AM
Rainmaker
5,224,694
Roy Kelley
Realty Group Referrals - Gaithersburg, MD

Talk with your favorite real estate attorney.

Aug 01, 2018 06:16 AM
Ambassador
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Joe Pryor
The Virtual Real Estate Team - Oklahoma City, OK
REALTOR® - Oklahoma Investment Properties

Try using common language or like everybody else says, consult a real estate attorney.

Aug 01, 2018 04:34 AM
Rainmaker
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Ron and Alexandra Seigel
Napa Consultants - Carpinteria, CA
Luxury Real Estate Branding, Marketing & Strategy

Michael,

Sounds like you need an attorney, and I am not sure I understand. 

Aug 01, 2018 06:49 AM
Rainmaker
3,137,054
Wayne Martin
Wayne M Martin - Chicago, IL
Real Estate Broker - Retired

You need a competent real estate lawyer! Never heard of a Florida ladybird deed!

Aug 01, 2018 06:05 AM
Rainer
283,148
David M. Dwares
Title Professionals Corp. - Fort Lauderdale, FL
Title guy with a broker license

Michael, without seeing the exact language contained in the ladybird (enhanced life estate) deed, I could not give you a specific answer.  But basically yes, the transfer would extinguish the rights of the remaindermen.

Aug 01, 2018 05:57 AM
Rainmaker
3,048,869
Tony and Suzanne Marriott, Associate Brokers
BVO Luxury Group @ Keller Williams Arizona Realty - Scottsdale, AZ
Serving Scottsdale, Phoenix and Maricopa County AZ

Ladybirds and Remaindermen - sounds like bands from the 60s!

Aug 01, 2018 09:06 AM
Rainmaker
1,266,852
Carol Williams
Although I'm retired, I love sharing my knowledge and learning from other real estate industry professionals. - Wenatchee, WA
Retired Agent / Broker / Property Manager

I have no idea what that is.  Perhaps you could write a blog post about it when you get more information. 

Aug 01, 2018 07:05 AM
Rainmaker
674,373
Candice A. Donofrio
Next Wave RE Investments LLC Bullhead City AZ Commercial RE Broker - Fort Mohave, AZ
928-201-4BHC (4242) call/text

You're going to need somebody well-versed in Florida real estate. We have those, but they probably are not going to answer you without representing you and specifics. Even then they may direct you to an attorney.

Aug 01, 2018 06:58 AM
Rainmaker
4,431,606
Gita Bantwal
RE/MAX Centre Realtors - Warwick, PA
REALTOR,ABR,CRS,SRES,GRI - Bucks County & Philadel

Good luck

Aug 01, 2018 05:29 AM
Rainmaker
977,613
Kevin J. May
Florida Supreme Realty - Hobe Sound, FL
Serving the Treasure & Paradise Coasts of Florida

A ladybird deed (aka life estate) can be defined as ownership for life literally. You can transfer the property but it's possession won't extend beyond the initial principal's demise. They are called life tenants sometimes. At death the remainderman gains full control to dispose or use the property in any way they want.  

Aug 01, 2018 10:28 AM
Rainmaker
1,204,273
Ryan Huggins - Thousand Oaks, CA
www.HugginsHomes.com - Thousand Oaks, CA
Residential Real Estate and Investment Properties

Ladybird.... as in Lindon Johnson's wife's nickname?  Check with a lawyer.

Aug 01, 2018 08:35 AM
Rainmaker
721,889
Doug Dawes
Keller Williams Realty - Topsfield, MA - Georgetown, MA
Your Personal Realtor®

Ladybird deed??

Only Ladybird I've heard of was Ladybird Johnson

Aug 01, 2018 07:57 AM
Rainmaker
643,443
John Juarez
The Medford Real Estate Team - Fremont, CA
ePRO, SRES, GRI, PMN

This is a legal question about which I know nothing. Sorry.

Aug 01, 2018 07:46 AM
Ambassador
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Jeff Dowler, CRS
Solutions Real Estate - Carlsbad, CA
The Southern California Relocation Dude

I have no idea and it sounds like a legal matter to me.

Aug 01, 2018 07:11 AM
Rainmaker
436,565
Diana Dahlberg
1 Month Realty - Pleasant Prairie, WI
Real Estate in Kenosha, WI since 1994 262-308-3563

Way above my pay scale, sorry!

Aug 01, 2018 07:09 AM
Rainmaker
1,813,950
Michael J. Perry
KW Elite - Lancaster, PA
Lancaster, PA Relo Specialist

say what ?

Aug 01, 2018 06:45 AM
Rainmaker
1,000,045
Anthony Acosta - ALLATLANTACONDOS.COM
Harry Norman, REALTORS® - Atlanta, GA
Associate Broker

Hi Michael, 

Fred Griffin has your answer. 

Aug 02, 2018 07:02 AM
Ambassador
3,153,609
Debe Maxwell, CRS
www.iCharlotteHomes.com | The Maxwell House Group | RE/MAX Executive | (704) 491-3310 - Charlotte, NC
Charlotte Homes for Sale - Charlotte Neighborhoods

Looks like Fred Griffin has you covered!

Aug 01, 2018 08:15 PM
Rainmaker
2,756,000
Kathleen Daniels
KD Realty - 408.972.1822 - San Jose, CA
San Jose Homes for Sale-Probate & Trust Specialist

Check with an attorney in the state or check the court website for more information.  I am not familiar with Florida laws. 

Aug 01, 2018 08:02 AM
Rainmaker
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Valeria Mola
SIB REALTY - Sunny Isles Beach, FL
305-607-0709 SIB Realty

Great answers are here. Good luck. 

Nov 06, 2018 07:05 AM
Ambassador
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Praful Thakkar
LAER Realty Partners - Andover, MA
Andover, MA: Andover Luxury Homes For Sale

Michael Scott - always a great answer from Fred Griffin

Aug 01, 2018 11:42 PM
Ambassador
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Bob Crane
Woodland Management Service / Woodland Real Estate, Keller Williams Fox Cities - Stevens Point, WI
Forestland Experts! 715-204-9671

Sounds like something only a very good attny would know, or our friend Fred.

Aug 01, 2018 03:51 PM
Rainer
219,246
Caroline Gerardo
CMG Financial - Newport Beach, CA
C. G. Barbeau the Loan Lady nmls 324982

If she is alive she can sell or mortgage or do whatever her heart desires and the remaindermen get nothing

Aug 01, 2018 11:52 AM
Rainmaker
904,586
Thomas J. Nelson, Realtor, ePRO, CRS, RCS-D
Big Block Realty 858.232.8722 - La Jolla, CA
& Host of Postcards From Success Podcast

Real Estate licenses can't answer law degree questions.

Aug 01, 2018 08:04 AM
Rainmaker
1,411,388
Evelina Tsigelnitskaya
SIB Realty - Sunny Isles Beach, FL
www.SIBRealty.org 305-931-6931

Agree with all answers. 

Nov 06, 2018 07:15 AM
Rainmaker
1,037,109
Dave Martin (703) 585-4687
Fairfax Realty - Fairfax, VA
Making Realty Dreams a Reality #WeWillGetYouHome

It seems Fred has a great resource for you to use but an attorney is a wise suggestion

Aug 06, 2018 03:57 PM
Rainmaker
4,003,588
Joan Cox
House to Home, Inc. - Denver Real Estate - 720-231-6373 - Denver, CO
Denver Real Estate - Selling One Home at a Time

Have never hear of a ladybird deed.

Aug 05, 2018 01:41 PM
Rainmaker
3,976,051
William Feela
WHISPERING PINES REALTY - North Branch, MN
Realtor, Whispering Pines Realty 651-674-5999 No.

?  Never heard of this

Aug 02, 2018 07:16 PM
Ambassador
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Tammy Lankford,
Lane Realty Eatonton, GA Lake Sinclair, Milledgeville, 706-485-9668 - Eatonton, GA
Broker GA Lake Sinclair/Eatonton/Milledgeville

It's called a life estate here and they can't "sell" it after that deed is signed except for selling what they own which is the right to occupy until their death.  So if I had a life estate and sold it when I died my named heir would then still own the house.

Aug 01, 2018 08:39 PM
Rainmaker
977,468
Sam Shueh
(408) 425-1601 - San Jose, CA
mba, cdpe, reopro, pe

?

Mexican law applies here. 

Aug 01, 2018 01:21 PM