2 different deeds do the same thing?

[texasjoe]

I have two different estate planning attorneys. I want one of them to draft a Lady Bird Deed (Texas). One drafted an Enhanced Life Estate Deed, the other a Special Warranty Gift Deed. Is there any difference between the two? Neither attorney can explain any difference between the two but I want to be sure I'm using the right one.

 

[army judge]

What are you trying to accomplish?

If an attorney can't explain something so you understand it, you might be wise to fire that attorney and hire one who can communicate with you.


Does this help?

A "Lady Bird Deed" is a nickname given to an Enhanced Life Estate Deed, which is used to convey property to your heirs outside of probate. They're quite the vogue in Texas and Florida.

Special Warranty Gift Deed : A special warranty gift deed is executed and delivered without monetary consideration. Frequently, the consideration is "love and affection". A covenant of special warranty means the deed is warranted by the grantor and restricted to certain persons or claims. In its most elemental form, the warranty is only against claims held by, through, or under the grantor.




Essentially a Lady Bird Deed and an Enhanced Life Estate Deed are one in the same thing.

John Hale, an attorney in the Dallas are offers a rather knowledgeable explanation.

http://www.thehalelawfirm.com/wp-co...aid-Asset-Protection-LadyBirdDeedsinTexas.pdf


This website offers a nice explanation of many deeds used in Texas.

http://www.lonestarlandlaw.com/deeds_in_texas.html