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My brother is terminally ill with cancer and wants to do a quit claim deed to transfer his property/home to me (his sister) and his two minor children. After his passing, he said that I could rent out the home and use the money to maintain the home and pay the property taxes. At such time that the children become of age, the property is to become solely theirs. Is this the right way to go?

jameshogg

Hi IIthatch,

Welcome to forums.

I think it's better if you use a transfer-on-death deed to make the transfer effective. This is because such a deed helps one in transferring property to the heirs after the current owner dies. It will be better than a quitclaim deed in your situation.

Thanks

jheard · Posted: Thu Jan 03, 2008 9:45 am Post subject:

If you go that route, use a Grant Deed. However, his oral wishes are not binding. He would need to put his wishes in a will. However, you may be subject to probate, which is costly and time consuming. Contact a probate/estate planning attorney to see about putting the home in a living trust.

blue · Posted: Thu Jan 10, 2008 5:50 pm Post subject:

Hi,

Welcome to Mortgagefit discussion board.

I do agree with jheard that you should use a grant deed. Your brother should make a Will so that you and his children will not face any problem in future. Contact an attorney and prepare the will ASAP.

Do let me know if you have any other questions.

Thanks
Blue

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

I think he should simply add you to title. You should do a surviorship deed that would transfer the property into your name without having to go through probate court in the event of his death.

lisascherzer · Joined: 04 Jan 2008 Posts: 755 1.12 Dollars($)

I also wanted to note that you should be the only one added to title. Your two children should not be on title.

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