The term “Ladybird deed,” also known as an enhanced life estate deed, was popularized in Florida in the 1980s. The name comes from Florida elder law attorney Jerome Ira Solkoff, who used the name of former First Lady “Lady Bird” Johnson in his educational materials to illustrate the mechanics of the deed. The name has since been attached to the concept, despite the fact that President Johnson likely never used a Ladybird deed to transfer property to his wife. A Ladybird deed is an estate planning tool that allows a property owner to transfer ownership of the property to another … Continue reading
Tag Archives: Real Estate
What is a Medicaid, aka 1% Deed?
Throughout my practice, what is colloquially known as a Medicaid or 1% deed has proven to be a viable and popular tool among practitioners and clients alike. In this blog, I will discuss the mechanics behind this technique and the aspects that are often misunderstood. While preparing a general warranty deed can sometimes be a straightforward legal service, the nuances and considerations involved in a Medicaid deed are complex and frequently overlooked. Unfortunately, I have observed many general practitioners offering Medicaid deeds as a service due to the seemingly simplistic nature of the task. Additionally, there is often conflation among … Continue reading
Reasons Realtors Need an Experienced Real Estate Attorney
Home sales almost always include purchase contracts with negotiated terms, legal jargon, and intricate procedures which are not always familiar to any particular buyer, seller, or realtor. From negotiating its terms to signing the contract which obligates the involved parties as to certain legal responsibilities, all parties involved deserve to understand the process. This understanding paves the way for a smooth transaction from the initial agreement to the final recording of the deed and funding. An experienced Law Firm Carolinas real estate attorney can assist in a variety of ways. Even though some or all of the parties might be … Continue reading
The Developer is Offering the Association (a lot of) Money to Sign a Release- Should the Board of Directors Consider Signing it?
Over the last year our firm has seen an uptick in offers to associations from the developer to pay money in exchange for signing a release. The language of releases can vary but the purpose is almost always the same – The money being offered to the association is in exchange for releasing the developer and any other named parties from any and all claims, known or unknown, that the association may have. These claims being released will almost certainly include claims for construction defects for the association’s amenities but can also include a release for claims related to the … Continue reading