Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

Adding a co-owner using a quit claim deed

Author Message
Icon Mini Profile amykrawciw





Joined: 29 Jun 2008

Posts: 1

1.38 Dollars($)
Post Posted: Sun Jun 29, 2008 12:44 pm    Post subject: Adding a co-owner using a quit claim deed
Like 0
Dislike 0

How do you add someone's name to a title using a quit claim deed keeping the grantor's name on the title as well? My aunt is very ill and we need to sell her property in Florida in order to help pay for her nursing care, but we want to keep her name on the property until it sells due to the homestead tax credit she gets as a FLA resident. So we just want to add my dad's name to the deed in order to enable him authority to work with a realtor in FLA. (we live in Michigan). Thanks! Amy
Icon Mini Profile adonis
adonis




Joined: 22 Oct 2005



Posts: 10242
Location: ALASKA
1042.50 Dollars($)
Post Posted: Sun Jun 29, 2008 10:34 pm    Post subject:
Like 0
Dislike 0

Welcome amykrawciw,

What you need to do is, let your aunt transfer a certain part of her property over to your dad. So, she'll have to sign on a quitclaim deed as the grantor thereby transferring a share of interest in property to your dad. Thus, the deed will reflect your aunt as the grantor and both your aunt and dad as the grantees.

I hope I could explain. And just in case you're looking for a sample deed for Florida quitclaim, you willl get it at http://www.mortgagefit.com/predeal/quitclaim-stateforms.html .

_________________
Procrastination is the enemy of your financial success
amy

Guest







Post Posted: Mon Jun 30, 2008 7:49 am    Post subject:
Like 0
Dislike 0

Yes, Thank you very much! That was very helpful.
_________________
Need help choosing the right loan? Get free consultation from community lenders/consultant
Icon Mini Profile Niicss
Niicss




Joined: 03 Oct 2005

Posts: 4770
Location: New Jersey
499.28 Dollars($)
Post Posted: Tue Jul 01, 2008 1:31 am    Post subject:
Like 0
Dislike 0

Welcome amykrawciw,

Your aunt needs to quitclaim to your dad and herself to add your dad on the deed or title of the property. So your aunt will be the grantor and your dad and aunt will be the grantee. Hope it is clear. By the way you should contact with an attorney who will daft the deed for you and help you to make the deed valid.

Is it a mortgaged property? If there is a mortgage on the property then your aunt needs to take consent from the mortgage company before signing the quitclaim deed.

Let me know if you have any further queries.

_________________
Good is the Enemy of Great.
Icon Mini Profile smaildaytoday





Joined: 15 Oct 2007

Posts: 52

0.00 Dollars($)
Post Posted: Tue Jul 01, 2008 11:49 am    Post subject:
Like 0
Dislike 0

YEs, the quit claim deed also can be do with part of property for thansferring. very simple and quick.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool






Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.312 seconds.