ENHANCED LIFE ESTATE DEED (LADY BIRD DEED)

Prepared by:
[________________________________________]

When recorded, return to:
[________________________________________]
[________________________________________]

Tax Parcel ID No.: [________________]

ENHANCED LIFE ESTATE DEED

THIS ENHANCED LIFE ESTATE DEED is made on [__/__/____] by:

GRANTOR (Life Tenant):
[________________________________________]
of [________________________________________], [________________], Michigan [________]

to:

GRANTEE (Remainderman):

CONVEYANCE

GRANTOR, for good and valuable consideration, the receipt and sufficiency of which are hereby acknowledged, CONVEYS AND WARRANTS to GRANTEE a remainder interest in the real property described below and in Exhibit A (the "Property"), SUBJECT TO an enhanced life estate reserved to Grantor:

1. ENHANCED LIFE ESTATE RESERVED

Grantor reserves unto Grantor an enhanced life estate in the Property, together with the following powers, exercisable without the consent or joinder of Grantee:

(a) Full right to use, possess, occupy, and enjoy the Property;
(b) Power to sell, convey, or transfer all or any part of the Property in fee simple;
(c) Power to mortgage, pledge, or encumber the Property;
(d) Power to lease the Property and retain all rents and income;
(e) Power to revoke this deed, in whole or in part, by recording a subsequent instrument;
(f) Power to change or add remaindermen by subsequent recorded instrument;
(g) Right to all profits, rents, and income from the Property.

2. NO PRESENT INTEREST IN GRANTEE

Grantee shall have no possessory interest, right of use, or right of control during Grantor's lifetime. The remainder interest is contingent upon (a) Grantee surviving Grantor, and (b) Grantor not having revoked or conveyed the Property.

3. AUTOMATIC VESTING

Upon Grantor's death, full fee simple title shall vest automatically in Grantee without probate and without the necessity of any further conveyance, subject to any liens or encumbrances then existing.

If multiple Grantees are named, they shall take title as:
☐ Tenants in common
☐ Joint tenants with rights of survivorship
☐ Tenants by the entirety (if married to each other)
☐ Other: [________________________________________]

4. PREDECEASING GRANTEE

If Grantee predeceases Grantor:
☐ Grantee's interest lapses and passes to surviving Grantees
☐ Grantee's interest passes to Grantee's heirs at law
☐ Grantee's interest reverts to Grantor

5. PROPERTY TAX EXEMPTIONS

☐ Grantor claims Principal Residence Exemption (PRE) under MCL § 211.7cc
☐ PRE is unaffected during Grantor's lifetime by the execution of this deed

6. TRANSFER TAX

☐ Exempt from Michigan Real Estate Transfer Tax under MCL § 207.526(a) (transfer for no consideration)
☐ County-specific transfer tax considerations: [________________________________________]

PROPERTY DESCRIPTION

The Property is located in [________________] County, Michigan, and is more particularly described in Exhibit A attached hereto and incorporated by reference.

Commonly known as: [________________________________________]

SIGNATURES

GRANTOR:

Signature: ________________________________________
Printed Name: [________________________________________]
Date: [__/__/____]

SPOUSE (if applicable):

Signature: ________________________________________
Printed Name: [________________________________________]
Date: [__/__/____]

WITNESSES (Required per MCL § 565.8)

Witness 1 Signature: ________________________________________
Printed Name: [________________________________________]

Witness 2 Signature: ________________________________________
Printed Name: [________________________________________]

ACKNOWLEDGMENT

State of Michigan
County of [________________]

The foregoing instrument was acknowledged before me on [__/__/____] by [________________________________________].

Notary Signature: ________________________________________
Printed Name: [________________________________________]
County of Commission: [________________]
Commission Expires: [__/__/____]
Acting in County of: [________________]

[NOTARIAL SEAL]

EXEMPT FROM REAL ESTATE TRANSFER TAX

This deed is exempt from Michigan Real Estate Transfer Tax under MCL § 207.526, subsection: [________]

EXHIBIT A — LEGAL DESCRIPTION

[________________________________________]
[________________________________________]
[________________________________________]
[________________________________________]

This deed is provided as a legal template and does not constitute legal advice. Consult a licensed Michigan real estate or elder law attorney before execution and recording.