my father will be living in the house and currently not financially sound, he his willing to grant the house to me. I don't want him to be able to take out another mortgage on the home.
Yes, Florida allows either type of life estate; but you really should both consult with a good local real estate attorney (which you will need anyway to arrange the mechanics of the transaction), as there are a number of ways to accomplish this (joint tenancy with right of survivorship, trusts, etc.), each with their own set of rules, tax and insurance issues, etc. bset to hash them all all with a ood lcoal real estate attorny, then pick the best for your purposes.
Hope this helps.
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A basic life estate deed would give the remainderman (you) a vested interest in the property and thus any mortgage or other transfer involving the property would require both of your signatures.
Discuss this with an experienced real estate attorney before anything is signed so you understand all of your options.
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