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Quit Claim Deed

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Sandra Guest 0.10 Dollars($)	Posted: Mon Aug 25, 2008 4:53 pm    Post subject: Quit Claim Deed My parents are both old and ill. They both have Wills that state their home and all property are to be left to me (since I am the only child). We want to bypass Probate and it's cost. They want the house to become mine only upon their death, is a Quit Claim Deed the answer? Can they sign a Quit Claim Deed but not file it until their death and at that time I would sign it then file it? What is the best way for me to have rights to their property at the time of their death?
larry Joined: 27 Jun 2007 Posts: 3328 473.51 Dollars($)	Posted: Tue Aug 26, 2008 1:47 am    Post subject: Hi Sandra. Welcome to the forum. If your parents sign a quitclaim deed to you then it will transfer the property to you immediately. So I think your parents can sue a Ladybird so that the deed is transferred to you after their death. You can also avoid the probate process if you use a ladybird deed. BTW is it a mortgaged property? Feel free to ask if you have any further questions. Best of luck, Larry
jheard Moderator Joined: 12 Dec 2007 Posts: 471 Location: Houston, TX 80.30 Dollars($)	Posted: Tue Aug 26, 2008 8:50 am    Post subject: You could also put the property into a living trust. _________________ This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.

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