| Author |
Message |
|
|
 kbrewer9
Joined: 07 Feb 2006
Posts: 5
0.57 Dollars($)
|
 Posted: Tue Feb 07, 2006 2:58 pm Post subject: Quit Claim deed under Tenancy-in-common |
|
|
| My dad recently died and executed a quit claim deed to put his house in my name and my two brothers, so we each have 25%. He was thinking that when he died the 25% would automatically pass to us and there would be no need for probate. The title co says the deed is in joint tenancy and therefore requires probate. The quit claim form has no option for joint tenancy or joint in common, so does this indeed need to go to probate. The house is in Nevada |
|
|
jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:04 pm Post subject: |
|
|
Hi,
Joint tenancy is ownership is used generally to avoid probate. So, I don't think that the Title Company is correct in asking for a probate for joint tenancy.
I am going to ask a real estate attorney and discuss your situation and will come back.
James |
|
|
ken
Guest
|
| Posted: Tue Feb 07, 2006 3:08 pm Post subject: |
|
|
| Probate is unnecessary for a Real property held in Joint Tenancy. The only requirement for the surviving joint tenant is to get the death certificate recorded in the local County Clerk's office. |
|
|
kbrewer9
Joined: 07 Feb 2006
Posts: 5
0.57 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:11 pm Post subject: Quit claim deed |
|
|
| Sorry, it was not in joint tenancy. The form has no option for either joint tenancy or Tenants in common, so how can the title co say that the deed is tenants in common which requires probate??? Thanks |
|
|
Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:23 pm Post subject: |
|
|
Hi,
Welcome to MortgageFit Forums.
Joint tenancy is the process of real estate ownership by two or more people in which the survivors automatically gain the ownership of a decedent's interest.
I think that's why they are assuming it incorrectly that it is a case of joint tenancy where the ownership of your father automatically passes to you and your brothers.
God bless you.
For MortgageFit,
Samantha
_________________
Know how to compare lenders with mortgage booklet
Last edited by Samantha on Tue Feb 07, 2006 3:44 pm |
|
|
kbrewer9
Joined: 07 Feb 2006
Posts: 5
0.57 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:29 pm Post subject: |
|
|
Smantha,
They are assuming that it is TENANT IN COMMON, NOT JOINT TENANCY. That's the problem, if the form has no option to declare either, why do they assume Tenants in Common??? |
|
|
Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:36 pm Post subject: |
|
|
Hi,
I am trying to make all the things clear to you.
In case of joint tenancy the interest in the property passes automatically to the surviving joint tenant upon death.
If it is a tenancy in common, then the interest of the deceased person passes to his heirs at law and not to the surviving tenant.
If it is not mentioned, then tenancies are pre-assumed as tenancy in common.
God bless you.
For MortgageFit,
Samantha
_________________
Know how to compare lenders with mortgage booklet |
|
|
kbrewer9
Joined: 07 Feb 2006
Posts: 5
0.57 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:39 pm Post subject: |
|
|
Samantha,
Thanks for all your help. It's not an easy time for us, but people like you make it alot easier to bear.
Karen |
|
|
Samantha
Community Mentor
Joined: 16 Sep 2005
Posts: 1602
Location: MASSACHUSETTS
149.70 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:43 pm Post subject: |
|
|
Hi Karen,
I can understand the tough time that you are going through and wish you come out of the trouble soon.
I shall also suggest involving a real estate attorney in the process so that much of the confusions and trouble can be avoided.
God bless you.
For MortgageFit,
Samantha
_________________
Know how to compare lenders with mortgage booklet |
|
|
jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:50 pm Post subject: |
|
|
Hi,
I talked to a real estate attorney who informed that probate is the formal legal process which requires an executor to be appointed for administering and distributing the assets to the intended beneficiaries.
Since the law of each state varies, so it is always better to consult an attorney to find out whether a probate is necessary.
James |
|
|
kbrewer9
Joined: 07 Feb 2006
Posts: 5
0.57 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:51 pm Post subject: |
|
|
| Thanks James |
|
|
blue
Joined: 21 Oct 2005
Posts: 1138
Location: MARYLAND
137.84 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:55 pm Post subject: |
|
|
Hi Karen,
Generally it is necessary for a probate in the county where the property is located in case of tenancy in common.
Regards,
Blue |
|
|
kbrewer9
Joined: 07 Feb 2006
Posts: 5
0.57 Dollars($)
|
| Posted: Tue Feb 07, 2006 3:58 pm Post subject: |
|
|
| Is it really necessary to retain an probate attorney or can one just download forms off the web?? |
|
|
blue
Joined: 21 Oct 2005
Posts: 1138
Location: MARYLAND
137.84 Dollars($)
|
| Posted: Tue Feb 07, 2006 4:07 pm Post subject: |
|
|
Hi,
Yes, it is necessary to hire an attorney if there is no will so that all the debts of the deceased can be paid off and that is the reason why there is Probate. Property taxes, personal taxes charge cards etc. are included.
Regards,
Blue |
|
|
m_fmhg
Joined: 04 Feb 2006
Posts: 2
0.07 Dollars($)
|
| Posted: Tue Feb 07, 2006 9:12 pm Post subject: quick claim completed/death/name still on mortgage/who ownes |
|
|
| m_fmhg/asked question yesterday/no reply yet/please research & reply. God bless! |
|
|
