James brings up a good point. Make sure you get an attorney to verify that this is the type of deed you want. An enhanced life estate deed usually refers to a deed used for Medicaid planning when trying to avoid Medicaid Estate Recovery. We call them "Ladybird deeds" here in Texas. The enhanced life estate deed is different than a deed transferring a life estate or remainder interest, and usually doesn't transfer any interest in property. It only transfers a possible future interest.
Unless you are trying to engage in Medicaid planning, (for which you’ll definitely need an attorney) you may want to make sure you’re using the right type of deed. I wouldn’t advise transferring the property unless you have consulted with an attorney first.
Mr. Frederick, you are correct, I did mistyped my last question and meant whether it would invalidate the Deed. I will have a Colorado attorney review the document just to be sure. Thanks!
Mr. Voeller, thank you for your answer as well. Fortunately we are not using the deed for Medicaid planning. We just wanted to make sure that my daughter will get the property without having to go through probate in the event my wife passes away without selling the property.