A “Lady Bird” deed is an estate planning tool named after deeds used by President Lyndon B. Johnson to transfer real property to his wife “Lady Bird” Johnson. When using this deed, the grantor conveys her interest in the property to a grantee, yet retains a life estate with full power to convey, mortgage...
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And now for something completely different…the “Lady Bird” Deed
Common Law Instruments of Conveyance
At common law, and in Michigan today, transfers of property are usually effectuated via Quit Claim Deed or Warranty Deed. The purpose of this article is to instill in the reader a basic understanding of each instrument, as well as the proper use of each instrument. First off, some arts and crafts: The person or entity conveying property...
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