We would like to provide all Meadows owners with some new information regarding Enhanced Life Estate Deeds, also known as ‘Lady Bird Deeds’.
Some owners currently have a Lady Bird Deed while others are unaware of this type of deed arrangement.
A Lady Bird Deed allows an owner(s) to add individuals to the Deed who will automatically become the owner(s) of the property upon the death of the current owner(s).
The only issue of concern is that the Meadows Condo Documents and Rules and Regulations require all prospective owners to obtain Board of Director approval through our screening process. Therefore, any future owner currently listed on a Lady Bird Deed should be aware of our Rules & Regulations and Procedures. Upon the death of the current owner(s) with a Lady Bird Deed, all new prospective owner(s) must contact the Meadows office to receive instructions and an application to proceed for screening and ownership approval.
Once approval is received, the new owner can contact an attorney and the Broward County Property Appraiser to create a new deed.
For those with Lady Bird Deeds or those contemplating such a deed, please notify all future owners of the procedures mentioned in this letter.
Thank you for your cooperation in this matter.