Difference between revisions of "Ladybird Deeds in Pennsylvania"
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| − | Ladybird deeds do not appear to be in use in Pennsylvania as such. | + | Ladybird deeds do not appear to be in use in Pennsylvania as such.<br> |
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| − | However, some deeds may contain language where the grantee holds property "in trust" for certain beneficiaries until death, but the grantee/trustee retains certain rights, such as the ability to sell and/or mortgage the property, without joinder of the beneficiaries. Often the grantor and grantee/trustee will be the same person. Such deeds and language should be examined carefully, and do not always rely on or incorporate a separate Trust-creating document. | + | However, some deeds may contain language where the grantee holds property "in trust" for certain beneficiaries until death, but the grantee/trustee retains certain rights, such as the ability to sell and/or mortgage the property, without joinder of the beneficiaries. Often the grantor and grantee/trustee will be the same person. Such deeds and language should be examined carefully, and do not always rely on or incorporate a separate Trust-creating document. |
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Revision as of 08:10, 4 May 2023
Overview
Ladybird deeds do not appear to be in use in Pennsylvania as such.
However, some deeds may contain language where the grantee holds property "in trust" for certain beneficiaries until death, but the grantee/trustee retains certain rights, such as the ability to sell and/or mortgage the property, without joinder of the beneficiaries. Often the grantor and grantee/trustee will be the same person. Such deeds and language should be examined carefully, and do not always rely on or incorporate a separate Trust-creating document.
