Ladybird Deeds in Missouri
Contents
Overview
Established by case law in Missouri. Different than a Transfer on Death Deed (TOD Deed) because it expresses a conveyance in the present tense and also reserves a Life Estate.
Sources
- There are no statues specifically related to Ladybird Deeds in Missouri.
- Ladybird Deeds have been recognized at Common Law by the state of Missouri.
- St. Louis Cty. Nat. Bank v. Fielder, 364 Mo. 207, 211, 260 S.W.2d 483, 484 (1953)
Compliance
Although title insurance agents are permitted to draft deeds in connection with title insurance closings, the drafting of a Ladybird Deed is more likely to be considered the unauthorized practice of law to the increased complexity involved in creating a Life Estate with additional powers being reserved to the grantor. It is strongly recommended that agents refer the drafting of any such Deed to outside counsel.
Forms
There are no specific forms for the creation of a Ladybird Deed in Missouri.
Search
Ladybird Deeds are found in the county Recorder of Deeds office. They would typically be indexed the same as any other standard Deed.
Examination
"The said party of the first part hereby reserves a Life Estate in and to said property, with power to sell, rent, lease, mortgage or otherwise dispose of said property during his natural lifetime."
Underwriting
- Ladybird Deeds are considered a present conveyance of fee simple title in Missouri and not a future interest.
Recording
- Ladybird Deeds are recorded at the county Recorder of Deeds office.
Pricing
- Preparation
- Recording
- Taxes
