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 kimehmorgan
Joined: 24 Jul 2009
Posts: 1
1.29 Dollars($)
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 Posted: Fri Jul 24, 2009 2:34 pm Post subject: Which Deed is legal and what happens now? |
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| My mother and Aunt own a house together. My Aunt filed a Quitclaim Deed to put 50% of her ownership in a trust account. The only deed that comes up in the NY registrar of Deeds is My Aunts. I was told that the last filed deed is the legal one, is this true. |
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jameshogg
Joined: 20 Dec 2005
Posts: 4291
Location: nevada
509.34 Dollars($)
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| Posted: Fri Jul 24, 2009 7:46 pm Post subject: |
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Hi kimehmorgan,
I guess your mother and your aunt each hold 50% of the property. Your aunt has put her portion of the property in the trust but your mother is still holding the ownership of the rest of the 50% of the property. Your mother and your aunt's trust - both are the owners of the property.
Thanks |
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manoj_gopale
Joined: 16 Feb 2009
Posts: 481
0.49 Dollars($)
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| Posted: Sat Jul 25, 2009 3:58 am Post subject: |
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kimehmorgan
welcome to mortgagefit
Your mother and aunt both are having same equity in the house so even if your aunt have quitclaim her part to someone else, your mother equity remains the same and thus both the parties now (trust and your mother) are now new owner of the property.
keep in touch.........
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