Will quick claim protect my home from creditors?

colin · Posted: Tue Jan 09, 2007 7:05 pm Post subject:

Yes JN, that can be done.

But do follow the procedure to have the deed notarized and recorded properly to make it valid.

Colin

jameshogg · Posted: Wed Jan 10, 2007 4:57 am Post subject: RE: quit claim a part of property

That's not a problem JN, your mother can quit claim her part of property to you. Your father will have no right to your interest in property.

Thanks,
James.

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Hello,
My Mother owns her home, and has recently been diagnosed with altzheimers. I would like to have her home quitclaim deeded to me and my 3 brothers, in doing this and she need to go into a nursing home in the future would her home be protected, and we would not have to sell it to pay the nursing home?
Also what id the time frame # of years that the home needs to be in our names before the nursing home cannot come after it?
If she lives in her home after it is deeded to us would she still be able to pay the utilities and taxes on it?

Thank You
Confused in Minnesota

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adonis · Posted: Wed Jan 17, 2007 5:34 am Post subject:

It will be ok if you quit claim the property. Since you will be the owner after quit claim, it will be your responsibility to pay the taxes and utilities.

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My Dad is transferring his property through quit claim to me .If Dad died does my sisters have the right to the property. after dad died.what are my right.

colin · Posted: Thu Apr 19, 2007 11:43 am Post subject:

Hi Donna,

Welcome to Mortgagefit forum.

After your dad transfers property to you using a quit claim deed, it will be yours only and others will not have any rights on it.

As soon the recording of the deed completes, you will be the owner and it will remain the same even after your father's death.

Colin

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

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My husband and I are considering making a quit claim deed on our home with our two daughters as grantees. Should either my husband or I have to go into a nursing home, could the nursing home put a lien on our home?

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Betty,

Have you applied for any Medicaid and not being able to make the expenses towards it? In that case, the Medicaid may place a lien on the house. But it will not affect the ownership of the property. You can pay off the lien at the time of selling the home.
For more information on this, you may refer to: http://www.mortgagefit.com/propertytransfer/medicaidpayment.html

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My husband and I have filed for a divorce. Although the house is in his name only, we have lived there together for the last 7 yrs. I just found out that he filed a Quit Claim Deed about 3 days ago. Our mediation starts next week. Can he do this and how can this effect our settlement?

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Hi Joanna,

You have mentioned that your husband has filed a quitclaim deed 3 days back. Now, when he is sole owner to the house, he has full right to do anything with the house as he wishes. But have you found out to whom did he quitclaimed?

And when you said that the quitclaim will affect your settlement, what do you exactly mean by this? Please explain so that I can help you to solve your problem.

larry · Joined: 27 Jun 2007 Posts: 3328 473.40 Dollars($)

Hi Joanna,

After filing divorce, if your husband does a quitclaim, it will not affect your divorce settlement in any way. Only if you have an agreement signed with the divorce decree by which you will be getting a part of the property after the divorce, then his doing the quitclaim will surely affect the settlement and you may have a claim to the property. Otherwise, it will have no impact on your divorce settlement.

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what kind of quit claim is this

miller_st · Joined: 17 Jan 2007 Posts: 917 168.82 Dollars($)

Yvonne, kindly tell us more about your situation. Is it that you are trying to transfer property into a trust?

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