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Quit Claim Deed: Document transferring property-interest

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jerry

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Joined: 17 Oct 2005
Posts: 1849
Location: MICHIGAN

283.82 Dollars($)

Post subject: RE:

Hi, Here I disagree with Mac, once you have signed a quit claim deed then you no longer have the interest in the community property state. For further help you can coordinate with an attorney. Thanks, Jerry

Leonard

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0.10 Dollars($)

Post subject: Quick Deed

My mother is still living. She wants the house to go to me. Can I quick deed the house now while she is still alive to avoid any problems after she passes away?

Caron

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Joined: 19 Jul 2005
Posts: 1562
Location: florida

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Post subject: RE:

Hi, I think your mother should sign a quit claim deed to you while she is still living. But let me tell you, with this deed you will be getting only the interest in the property and not the title of ownership. To transfer the title to the property, your mother will have to make a will so that on her passing away you can get the ownership rights. Thanks, Caron.

angela

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Post subject: RE:

Hi, I can tell you something as i have seen my aunt signing a quit claim to her son while still alive. It's always better to get the signature while living; after all you get to avoid legal hassles and you hardly have to run after attorneys for seeking help. why not ask your mom to sign now?

Leonard

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0.10 Dollars($)

Post subject: Quick Deed

Thanks for all your help so far! My next question would be: Is it better then for mom to just transfer the title to me in my name so I would have interest and ownership of the house? A full deed transfer. As if I was just buying it. Does this mean then I would be responsible for all property taxes while she is still alive?

jerry

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Joined: 17 Oct 2005
Posts: 1849
Location: MICHIGAN

283.82 Dollars($)

Post subject: RE:

Hi,

Yes you can have the full ownership of the house through a full deed transfer.

Quote:

Does this mean then I would be responsible for all property taxes while she is still alive?

Since after the transfer, you will be the owner of the house, you will have to carry all the liabilities attached to the house even if your mother is still alive.

Please feel free to ask if you have any more doubts.

Thanks,
Jerry

adonis
adonis

Joined: 22 Oct 2005
Posts: 4719
Location: ALASKA

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Post subject: RE

Yes, it has to be, as when you are getting the ownership then the taxes will also be paid by you. And common Leonard, dont get scared of these taxes. I am sure that wont be too many. _________________ Procrastination is the enemy of your financial success

allie

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Post subject: transfer property

Please tell me the legal form to use to transfer my property to my sons. Is it a quit claim deed? Would I still have control of it, or could they sell it without my consent? Could a nursing home sell it if I needed to pay their bills? Thank you so much.

adonis
adonis

Joined: 22 Oct 2005
Posts: 4719
Location: ALASKA

255.10 Dollars($)

Post subject: RE

Hi, allie Yeah using qyuit claim deed, you can transfer the ownership to you son and its verry much legal. One you transfer the property, you son will have the right to sell it. _________________ Procrastination is the enemy of your financial success

ckalvesmaki

Community Experts

Joined: 28 Jan 2006
Posts: 377
Location: Dallas

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Post subject:

You can remain on title as well so nothing could be done without your consent. You may want to retain an attorney and grant them a POA if you become unable to meake decisions on your own. That way a neutral third party can represent your interests. Depending on the state you live in you may have a homestead exemption to protect the home against creditors. These questins are best resolved by a real estate lawyer or an attorney that can handle estate planning and wills etc.... _________________ Cedric Kalvesmaki *Professional Disclaimer* While I am a Mortgage Professional, this advice is generic in nature only. 888-383-9019 emails and PMs gladly answered www.freedommortgagetexas.com Freedom Mortgage I live in TX but cover all 50 states

Marybeth

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Post subject: Filing at the court house

I am financing a home for my daughter because she could not get any financing. She is only going to pay the interest and we will forgive some of the loan every year. I wonder if a quit claim deed would be a wise choice so if something happens to her we will be protected. The property was put into her name. I would like to hold this quit claim deed and not have to file it unless it becomes necessary. Does it have to be filed right away to be legal?

Samantha

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Joined: 16 Sep 2005
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Location: MASSACHUSETTS

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Post subject:

Hi Mary, Welcome to MortgageFit Forums. This is a matter within the family as your words indicate and you want to keep it within the family till the situation demands. So, in that case you can prepare the deed and keep it with you after necessary procedures. To be legally valid a deed need not be recorded but to make a deed risk free it is to be recorded with the county's recorder office. So, I would suggest you to consult a real estate attorney and take his suggestions in the matter. God bless you. For MortgageFit, Samantha _________________ Know how to compare lenders with mortgage booklet

marie

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Post subject: grant deed / quitclaim deed

could you tell me what this means..the form of the public reads in this order: rec date doc # name reference name title grantor/grantee 3/04 xxx S.T. B.S grant deed grantor 5/04 xxx S.T. R.T. grant deed grantee 5/04 xxx S.T. B.S. grant deed grantee 5/04 xxx R.T. S.T. grant deed grantor 5/04 xxx S.T. R.T. grant deed grantee 5/04 xxx B.S. S.T grant deed grantor 5/04 xxx S.T. B.S. grant deed grantee 6/05 xxx S.T. B.S. quitclaim deed grantor who holds title to the house now...ST RT AND/OR BS?? ST & RT ARE MARRIED..BS is ST mom....RT owes me money...can i use this house as a lien? thank you marie

Zeal_Deal

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Post subject:

I would like to answer your query but as I am not an expert and therefore not familiar with all the short forms. I would request you to please give me some more details so that I can help you. Sorry for the inconvenience. Zeal_Deal

Mac_7

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Post subject: RE

I think the title is with BS, ST's mom. If you can make it more clear about the form you were refering to then I think I will be more helpfull to you.