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Can my mom quit claim her house to herself and set up as a Life estate with equal shares going to 4 kids?

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tklarson5 Joined: 25 Nov 2009 Posts: 1 1.27 Dollars($)	Posted: Wed Nov 25, 2009 12:08 pm    Post subject: Can my mom quit claim her house to herself and set up as a L Like 0 Dislike 0 Mom is owner of house currently. She wants to live there as long as she can. Would like to set up as life estate in order for her to live there and the house asset would go to her 4 kids equally when she passed away. She lives in Minnesota, Hennepin Count, is 77 yrs old.
adonis Joined: 22 Oct 2005 Posts: 10250 Location: ALASKA 1043.57 Dollars($)	Posted: Wed Nov 25, 2009 7:44 pm    Post subject: Like 0 Dislike 0 Hi tklarson, Your mother can definitely sign a quit claim deed and transfer the property equally to all her 4 kids. In the quit claim deed, she will have to mention the life estate clause which will give her the rights to stay in the property until death. She can contact an attorney and get the deed drafted from him. _________________ Procrastination is the enemy of your financial success

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