If something happens to my Dad, can my stepmother take over

Guest 0.10 Dollars($)

My Dad and I are about to have a house in both our names. I'm very worried that if something happens to my Dad his wife (the evil stepmother) can take over his half of this house...and then my nightmare begins...

How does this work? How can I protect myself bc my Dad is convinced that his wife would never do that, I however, m scared to death...

PLEASE HELP!! THX!!!!

jameshogg

Hi Guest,

Welcome to forums.

You can request your dad to sign on a beneficiary deed/transfer-on-death deed such that after he passes away, you will be the person getting property rights. But I doubt whether you dad would like to do it because he might want to offer some interest in property to his wife.

Even if your dad prepares a Will or transfers property into trust making you the trustee, the same concern remains as to whether he'll make the wife a part of his estate. So, it is better if you have a straight talk with him.

Thanks

jheard · Posted: Sat Mar 01, 2008 8:54 am Post subject:

Take the house as Joint Tenants. If one joint tenant dies, the other joint tenant automatically gets the entire property.

Guest 0.10 Dollars($)

jheard, Just wondering-- Does adding someone as joint tenant require notification/approval from the lender as quit claim to add someone does?

Jessica · Posted: Sun Mar 02, 2008 11:52 pm Post subject: RE: adding as joint tenants

Hi Abbey,

It is required to inform the lender or you do need his approval before you add someone to your property as a joint tenant. By the way, are you the original poster?

Regards,

Jessica

Guest 0.10 Dollars($)

Thanks Jessica, No I'm not the original poster. I just wondered if lender notification is standard practice as I know someone in a similar situation.

adonis · Posted: Mon Mar 03, 2008 1:20 am Post subject:

Yeah it is a practice. Smile

jheard · Posted: Mon Mar 03, 2008 8:33 am Post subject:

It all depends on what your contract says. It's always a good idea to read it first.

All times are GMT - 7 Hours

Page 1 of 1