Question
12 How is a Lady Bird deed different from a traditional life estate deed? Bonus Question: James Mitchell owns a home at 100 N. Main
12 How is a Lady Bird deed different from a traditional life estate deed? Bonus Question: James Mitchell owns a home at 100 N. Main Street, Anytown, Anystate with his wife, Wanda. The deed reads "to James Mitchell and Wanda Mitchell, his wife, as joint tenants with right of survivorship and not as tenants by the entirety."James and Wanda have three adult children, Jim, John, and Dan. Assume the deed was drafted correctly and that they do not live in a community property state. A) James dies survived by Wanda. What are the respective rights of Wanda, Jim, John, and Dan in the property, if any? James dies, but Wanda has already predeceased him. What are the children's respective interests in the property? B) How would scenarios a and b change if the deed specified "James Mitchell and Wanda Mitchell, his wife, as tenants by the entirety"? C) would scenarios a and b change if this was a community property state and the deed stated "James Mitchell and Wanda Mitchell, his
wife"?
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