As of May 2015, Lady Bird deeds, also known as life estate deeds, are legal in Pennsylvania, according to Mika Meyers Beckett & Jones and the Pennsylvania Department of Public Welfare. It sets up a specific type of joint ownership of property between two or more individuals.Continue Reading
In the simplest version of a life estate deed, the original owner has ownership rights to the property until death, explains DPW. At that point, the second owner has ownership rights and takes possession of the property. Original owners are allowed to use their properties and retain any income from them. However, they are responsible for maintenance costs and taxes. Original owners are not allowed to sell their properties without permission from the second owners.Learn more about Is This Illegal?