General Warranty Deed: A General Warranty Deed is also called a Statutory Warranty Deed. It fully warrants title to the property being conveyed against any and all claims. It offers the broadest warranty of any of the deeds. General Warranty Deeds are used in most residential real estate transactions in Florida.
Quit Claim Deed: A Quit Claim Deed gives no warranties of title. While it quickly conveys whatever title the grantor may have, in executing a Quit Claim Deed, the grantor is not representing that he owns the property or that he has the right to convey the property. As such, a Quit Claim Deed may not always be the best option to convey property.
Lady Bird Deed: A Lady Bird Deed, also known as an Enhanced Life Estate Deed, is only recognized by common law in three states: Florida, Michigan and Texas. The Florida lawyer who created this deed arbitrarily named it after President Johnson’s wife.
With a Lady Bird Deed, the owner of the property, referred to as the “Life Tenant,” retains complete control over the property during his or her lifetime. The Life Tenant has the right to mortgage or sell the property without the consent of the beneficiaries or the remaindermen named in the Deed because the property does not actually transfer until the death of the Life Tenant. Upon the passing of the Life Tenant, the beneficiaries will file the death certificate in the public records, which is all that is needed in order for title to pass to them.