A Lady Bird deed is a deed that allows a real property owner to transfer ownership of the property to another person or entity while continuing to use and control the property.

In some states a Lady Bird deed may be used as an estate planning tool, allowing the owner to make a lifetime gift of the property; avoid federal gift taxes (because it is an incomplete gift and is not final); avoid probate; qualify for Medicaid benefits; and continue to live in their private home after transferring ownership (title) of it to another person or entity.

A Lady Bird deed may also be referred to as an enhanced life estate deed, as it effectively gives the owner a life estate interest in the property while transferring ownership (title) to another person or entity.

Laws vary from state to state, but a Lady Bird deed may also allow the owner to continue to have complete control of the property, without input from the grantee under the Lady Bird deed. This may include the owner’s right to change their mind and sell or transfer the property to another person or entity, or to make changes to the property.

In Oklahoma, Lady Bird deeds are not recognized by state statute. Oklahoma law does not provide for the use of enhanced life estate deeds, which allow for the retention of control over the property until death while designating a remainder beneficiary. Instead, property owners in Oklahoma may use traditional estate planning tools such as wills, trusts, or joint tenancy to manage the transfer of their property. These tools can help avoid probate, manage tax implications, and ensure the property is distributed according to the owner's wishes. However, they do not offer the same level of control during the owner's lifetime as a Lady Bird deed would. It's important for property owners in Oklahoma to consult with an attorney to explore the most suitable estate planning options available under state law.