ENHANCED LIFE ESTATE DEED (LADY BIRD DEED)

Prepared by:
[________________________________________]

Return to:
[________________________________________]
[________________________________________]

Tax Map / Parcel No.: [________________]

ENHANCED LIFE ESTATE DEED

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

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

to:

GRANTEE (Remainderman):

CONVEYANCE

GRANTOR, for good and valuable consideration, does hereby GRANT and CONVEY unto GRANTEE a remainder interest in the real property described in Exhibit A (the "Property"), RESERVING unto Grantor an enhanced life estate as follows:

1. ENHANCED LIFE ESTATE

Grantor reserves an enhanced life estate with the following powers, exercisable without the joinder, consent, or knowledge of Grantee:

(a) Full right to use, possess, and enjoy the Property;
(b) Power to sell, convey, or transfer 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 by executing and recording a subsequent instrument;
(f) Power to designate new or additional remaindermen;
(g) Right to all profits, income, and proceeds from the Property.

2. NO PRESENT INTEREST

Grantee has no present possessory or vested interest 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. VESTING

Upon Grantor's death, fee simple title vests automatically in Grantee without probate and without further instrument of conveyance, subject to existing liens and encumbrances.

If multiple Grantees:
☐ Tenants in common in equal shares
☐ Joint tenants with right of survivorship
☐ Other: [________________________________________]

4. PREDECEASING GRANTEE

If Grantee predeceases Grantor:
☐ Interest lapses and passes to surviving Grantees
☐ Interest passes to predeceased Grantee's heirs
☐ Interest reverts to Grantor

5. HOMESTEAD EXEMPTION

☐ This Property is Grantor's principal residence
☐ West Virginia homestead exemption (W. Va. Code § 38-9-1 et seq.) is preserved during Grantor's lifetime

PROPERTY DESCRIPTION

See Exhibit A attached hereto and incorporated by reference.

Commonly known as: [________________________________________], [________________], West Virginia [________]

SIGNATURES

GRANTOR:

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

SPOUSE (if applicable):

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

ACKNOWLEDGMENT

State of West Virginia
County of [________________]

The foregoing instrument was acknowledged before me this [____] day of [________________], [________], by [________________________________________].

Notary Signature: ________________________________________
Printed Name: [________________________________________]
My Commission Expires: [__/__/____]

[NOTARIAL SEAL]

EXHIBIT A — LEGAL DESCRIPTION

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

District: [________________]
Tax Map: [________________] Parcel: [________________]

This deed is provided as a legal template and does not constitute legal advice. Consult a licensed West Virginia attorney before execution and recording.