A Lady Bird Deed, also known as an enhanced life estate deed or transfer on death (TOD) deed, is a special legal document that allows you to name someone who will inherit your real estate—but only after you pass away.
Retain Full Control of Your Property During Your Lifetime
One of the biggest advantages of a Lady Bird Deed is that it does not affect your ownership rights during your lifetime. You still hold full control over your property. That means you can:
- Sell the property whenever you want
- Use it as collateral for a mortgage or loan
- Qualify for property tax exemptions (such as homestead exemptions)
- Live in it, lease it, or improve it just as you would with any other property you own
Essentially, your day-to-day property rights remain completely unchanged.
What Happens After Death
The Lady Bird Deed only becomes effective after your death. At that point, the property automatically transfers to the beneficiary you named in the deed, bypassing probate and avoiding the need for a will or court process.
No Rights for the Beneficiary While You’re Alive
The person you name to inherit the property (the beneficiary) has no legal rights to it while you’re alive. They can’t access it, sell it, or interfere in any decisions you make regarding the property.
If you choose to sell the property before you pass away, the transfer on death deed is voided automatically. It’s as if the deed never existed, and the beneficiary loses any claim without needing to take legal action.
Summary
A Lady Bird Deed offers a flexible and powerful way to pass on property. It lets you maintain full ownership and control during your lifetime while giving you peace of mind that your chosen beneficiary will inherit it easily and efficiently when the time comes.
If you’re looking for a way to simplify estate planning without giving up control of your property, a Lady Bird Deed may be a smart option to consider.
