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bev
Guest
0.10 Dollars($)
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 Posted: Wed Aug 23, 2006 9:36 pm Post subject: Transfer of deed/adding name to deed |
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| My father has done a will leaving his home to me upon his death. While he is still alive he would like for my name to be put on the deed of the house. Is this possible. The house is still has a mortgage on it . If this is not possible what procedures would be necessary to make me become owner since I will be paying the mortgage |
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Jessica
Community Mentor
Joined: 08 Jun 2004
Posts: 693
Location: OHIO
123.43 Dollars($)
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| Posted: Thu Aug 24, 2006 12:20 am Post subject: RE: |
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Hi Bev,
You will find the answer to your query here.
In case you have any other query, please let us know. We shall be glad to help you.
Regards,
Jessica.
_________________
Home buying made simple with Community booklet |
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June
Guest
0.10 Dollars($)
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| Posted: Thu Aug 24, 2006 11:40 am Post subject: Quit Claim Deed |
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My son is disabled due to anxiety and panic disorder. He has worried what will happen to him when I pass away. I maintain our home and pay all expenses. I have signed a quit claim deed so the property will be his, but he is afraid it won't hold up in case one of his siblings take him to court and try to take part of the property. I don't anticipate this will happen. I just need to know if the quit claim deed will stand up in court.
Please advise.
June |
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jameshogg
Joined: 20 Dec 2005
Posts: 1038
Location: nevada
131.64 Dollars($)
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| Posted: Thu Aug 24, 2006 11:56 am Post subject: |
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Hi June,
Quit claim deed will transfer your interest in the property to your son.
But instead a warrant deed can also be used which would officially transfer the title of the property in your son's name.
Have a look at this page for all the details and features of a warranty deed.
Thanks
James |
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elad
Guest
0.10 Dollars($)
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| Posted: Thu Aug 24, 2006 4:27 pm Post subject: quit claim deed |
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my mother owns property that she wants me to have. if i'm reading this forum right and we do a quit claim deed it would transfer omnership to me at her passing?
would i have to pay gift taxes on the amount?
i have kept the taxes paid for her for the last 12 years.....could this be considered payment for the property?
i appreciate your answers. |
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1428
Location: florida
240.05 Dollars($)
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| Posted: Thu Aug 24, 2006 9:43 pm Post subject: RE: |
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Hi,
| Quote: | | we do a quit claim deed it would transfer omnership to me at her passing? |
The quit claim will transfer interest in the property from your mother to you. But the transfer of title is not guaranteed through this deed. Know more...
Thanks,
Caron. |
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Hannah Brown
Guest
0.10 Dollars($)
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1428
Location: florida
240.05 Dollars($)
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| Posted: Thu Aug 24, 2006 10:08 pm Post subject: RE: Payment for the property |
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Hi,
| Quote: | | i have kept the taxes paid for her for the last 12 years.....could this be considered payment for the property? |
No, the taxes are paid to the government whereas the payments on the property are made to the lender.
| Quote: | | we do a quit claim deed it would transfer ownership to me at her passing?would i have to pay gift taxes on the amount? |
Regarding the ownership rights, your mother can sign a title deed or warranty deed so that your rights on the property are guaranteed. And, you will get ownership rights before your mother passes away provided the deed is signed at present.
Thanks,
Caron. |
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z
Guest
0.10 Dollars($)
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| Posted: Thu Aug 31, 2006 6:17 pm Post subject: quit deed |
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| my inlaws names are on the deed as are my wifes and mine. My in-laws want there names removed from the deed |
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Caron
Moderator
Joined: 19 Jul 2005
Posts: 1428
Location: florida
240.05 Dollars($)
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| Posted: Thu Aug 31, 2006 8:06 pm Post subject: RE: names to be removed from deed |
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Hi Guest,
That's very simple, you have your inlaws sign a quit claim deed and transfer their share to you or to whoever they want.
Know more on quit claim deed and also go through some of the discussions in this thread for further knowledge on how the deed works.
Thanks,
Caron. |
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Josephine
Guest
0.10 Dollars($)
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| Posted: Fri Sep 01, 2006 5:36 am Post subject: Quit Claim |
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| My son bought the house I'm living in before he was married. Now, he is married and I feel insecure that if something happened to my son, his wife might not let me continue to live here. Will a quit claim help this situation? Or, is the only answer for me to purchase the house from my son. |
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Munsch
Guest
0.10 Dollars($)
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| Posted: Fri Sep 01, 2006 12:35 pm Post subject: |
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Hi Josephine,
A tenancy in common is an option for you where two of you can own distinct title to the property. If supposedly something happens to your son then his part title to the property will pass as per his will and not to rest of the tenants.
This way your share of the title to the property or rather your part of the property will not automatically pass on to your daughter-in-law. |
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2beme
Guest
0.10 Dollars($)
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| Posted: Fri Sep 01, 2006 4:55 pm Post subject: Best solution |
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Me and my fiance currently live in an apartment together, he just bought a house for us to share, but since I will be living there with him and paying half the mortgage and bills what would be the best way to assure my interest in the property. I would like all the steps that I should follow.
Time is soon approaching, and I refuse to move in with him, unless I'm fully vested.
God Bless You,   |
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jameshogg
Joined: 20 Dec 2005
Posts: 1038
Location: nevada
131.64 Dollars($)
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Josephine
Guest
0.10 Dollars($)
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| Posted: Sat Sep 02, 2006 8:55 am Post subject: More on tenancy in common AND Quit Claim Deed |
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| Thanks for answering my question. Two more things please. Is a tenancy in common the same thing as a Quit Claim. Also, please understand, I live in one state while my son and his wife live in another state. Is your suggestion that he and I might STILL be able to do a tenancy in common? And/or, would it help if my daughter in law signed off on a Quit Claim Deed? |
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