Posted on: 05th Apr, 2006 02:40 pm
my mother passed away owning a home with her sister. unfortunately the home was only in my mother's name. she passed away with some debt and my aunt said that she would be responsible for the debt if the creditors came looking for the money if we did a quit claim deed. can we deed the property to her without doing an affidavit of heirship?
Hi Michelle,
I feel sorry to hear about your mother's death. May her soul rest in peace.
The question you asked is a legal question and it's better to consult an attorney for the purpose.
In general I think a probate must be filed to claim your ownership before you pass the title to your aunt.
James
I feel sorry to hear about your mother's death. May her soul rest in peace.
The question you asked is a legal question and it's better to consult an attorney for the purpose.
In general I think a probate must be filed to claim your ownership before you pass the title to your aunt.
James
Hi,
A person is said to have died intestate without a valid will left behind. In that case the property is divided according to the State's intestacy laws.
Normally you will get the property as a heir if there is no other claim, but the liens are to be cleared.
A person is said to have died intestate without a valid will left behind. In that case the property is divided according to the State's intestacy laws.
Normally you will get the property as a heir if there is no other claim, but the liens are to be cleared.
As an heir you inherit property from the estate of a deceased person who died without a will. So, in that case I don't think you require any affidavit of heirship.
Michelle,
The purpose of Affidavit of Heir ship is to state the heirs of a deceased person. So, I think it is quite necessary before you can quit claim the property as that will establish your rights as the grantor.
But since this is a legal matter and is critical, you should discuss it with an attorney and take his guidance.
The purpose of Affidavit of Heir ship is to state the heirs of a deceased person. So, I think it is quite necessary before you can quit claim the property as that will establish your rights as the grantor.
But since this is a legal matter and is critical, you should discuss it with an attorney and take his guidance.
my father died without a will, my parents were getting a divorce but was not finalized before the divorce, the judge signed the papers after he died.
The house is still listed as the estate of ...c/o my name. my mom doesn't want the house she knows he was leaving it for me. What do we have to do to get my name listed as owner? If she "gives" it to me there is a hefty tax i'll have to pay if i decide later on to sell. Should or can we put it in her name first then add me then take her off?
The house is still listed as the estate of ...c/o my name. my mom doesn't want the house she knows he was leaving it for me. What do we have to do to get my name listed as owner? If she "gives" it to me there is a hefty tax i'll have to pay if i decide later on to sell. Should or can we put it in her name first then add me then take her off?
Hi Tamara,
Now you must be aware that if you stay in the house for at least two years and use it as your main home you can get $250,000 exemption from your capital tax.
I don't know how the settlement that was made by the court so that I can put a comment on the basis of it.
Normally if the owner dies without a will then, the property gets divided as per the State's intestacy laws. In that case you are likely to inherit a part of it.
As far as the quit is concerned, in any case the transfer will be considered as a capital gain to you.
Another thing I would like to mention here that unless you inherit a house in a market with high property values like in New York or San Francisco, you aren't likely required to pay taxes. So, if you sell an inherited house immediately, probably there is no need to worry about taxes.
These are critical issues and should be dealt under the guidance of a real estate attorney. He can guide you perfectly.
James
Now you must be aware that if you stay in the house for at least two years and use it as your main home you can get $250,000 exemption from your capital tax.
I don't know how the settlement that was made by the court so that I can put a comment on the basis of it.
Normally if the owner dies without a will then, the property gets divided as per the State's intestacy laws. In that case you are likely to inherit a part of it.
As far as the quit is concerned, in any case the transfer will be considered as a capital gain to you.
Another thing I would like to mention here that unless you inherit a house in a market with high property values like in New York or San Francisco, you aren't likely required to pay taxes. So, if you sell an inherited house immediately, probably there is no need to worry about taxes.
These are critical issues and should be dealt under the guidance of a real estate attorney. He can guide you perfectly.
James
My friends father passed away. There was not a will in place or insurances. He left a lot of debt except his house was paid in full. My friend recieved a call saying that all debts were put into his name and he was responsible now. My friend is bordering on poverty so how is he able to pay the creditors? Can they sell the house then pay or do they have to keep up the payments (plus their own)until they sell the house?
Hi deborah.
If there is any debt then the creditor can place lien on the property. So you can sell the property to pay off the creditors. BTW did the creditors put lien on the property? How much is the value of the property and how much did your friend's father owe? I think your friend should better consolidate the debts. You can visit debtconsolidation care community at "http://www.debtconsolidationcare.com/forums/". This is a very helpful community.
Hope it helps. Feel free to ask if you have any further questions.
Best of luck,
Larry
If there is any debt then the creditor can place lien on the property. So you can sell the property to pay off the creditors. BTW did the creditors put lien on the property? How much is the value of the property and how much did your friend's father owe? I think your friend should better consolidate the debts. You can visit debtconsolidation care community at "http://www.debtconsolidationcare.com/forums/". This is a very helpful community.
Hope it helps. Feel free to ask if you have any further questions.
Best of luck,
Larry
Hi I am looking for information on an issue. My Grandmother had owned this house that my mom, my sister and, I live in currently. My grandmother had passed away in 1996. When she passed she did not leave any sort of will or anything. I am wondering on how to transfer either to my name or my mother's name. There is a little debt on the mortgage left to pay off, roughly about $6,000. After we settle this debt is it going to be possible to transfer the ownership of the property?
Hi J.K. Harris,
As your grandmother has not left any will or deed transferring the property, you can file an affidavit of heirship in the county recorder's office and transfer the property in your name or your mother's name.
Thanks.
As your grandmother has not left any will or deed transferring the property, you can file an affidavit of heirship in the county recorder's office and transfer the property in your name or your mother's name.
Thanks.