Using Enhanced Life Estate Deeds in Vermont
Owners of real property located in Vermont have access to a useful estate planning document: the Enhanced Life Estate Deed.
In most cases, traditional warranty or quitclaim deeds convey a present interest in property, meaning that as soon as the grantor (seller) signs the deed, the grantee (buyer) owns the land. One way to forestall the transfer is to use a life estate, which allows the owner to keep possession until death. The grantee becomes what's known as a remainderman, or someone who holds a remainder interest in the property during the owner's life. To protect that interest, the grantee must agree to changes in the property's use. Note that transfers initiated under traditional deeds and life estates are permanent.
Enhanced life estate deeds, also known as Ladybird or Granai deeds, convey a revocable future interest in real estate, with the transfer of the remaining title rights to take place when the grantor (owner) dies. These deeds reserve all present ownership rights for the owners, including the right to sell, lease, mortgage or convey the property, with no obligation for notice to or authorization from the grantees.
Vermont's Ladybird deeds transfer the property outside of the owner's will, without the need for probate. Even so, to avoid unnecessary complications, owners should make sure there are no conflicting bequests in their wills.
Enhanced life estate deeds offer a flexible, convenient tool for a comprehensive estate plan, but they may not be appropriate in all cases. Contact an attorney with specific questions or for complex situations.
Deeds.com Vermont Enhanced Life Estate Warranty Deed Forms Have Been Updated as Recently as Thursday September 12, 2019
What others like you are saying:
Gail W. said: Easy to use!!
Reply from Staff: Thank you!
Larry H. said: Wow! So easy and such a cost savings. Thanks
Reply from Staff: Thanks Larry, we appreciate your feedback.
Carol F. said: Instructions were easy to follow and it was reasonable
Reply from Staff: Thank you for your feedback. We really appreciate it. Have a great day!
Maria S. said: The paperwork/forms are fine, but there isn't enough explanation for me to figure out how to file the extra forms (which I do need in my case). The main form, Deed Upon Death is fine. I think the price is pretty high for these forms. I wouldn't have purchased it because there are places to get them for much cheaper (about 6 dollars), but this site had the extra forms I wanted (property in a trust and another form). Unfortunately these were included as a "courtesy" and there are no instructions for them. So three stars for being clear about what was in the package, having the right forms that I need, but instructions for putting them to use and price took a couple of stars off. Downloading was easy and once you download you can type the info into the PDF--that makes working with the forms much easier.
Reply from Staff: Thank you for the feedback Maria. Regarding the supplement documents, it is best to get assistance from the agency that requires them. These are not legal documents, they should provide full support and guidance for them.
Michael L. said: I accidentally ordered the wrong deed package. Was looking for a quit claim deed and got a trustee deed. I immediately emailed the company, nothing back from them. I would like to exchange my purchase.
Reply from Staff: Thank you for your feedback. We replied to your message on December 20th at 2:05 pm, the reply was as follows: As a one time courtesy we have canceled your order/payment for the Trustee Deed document.
Isabel M. said: Easy and quick...I highly recommend this site:)
Reply from Staff: We appreciate your business and value your feedback. Thank you. Have a wonderful day!
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