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88 Year old Father - Fully Paid Home

Posted on: 10th Jan, 2007 10:34 am
My 88 year od father is alone in Florida with a fully paid, free and clear home. There is a Revocable Living Trust and I am its executor. Does it make sense from a financial point to have a warranty deed make up in my name in case I have to sell and put my father in a living assisted home? If not, then what?

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Posted on: 10th Jan, 2007 10:44 am
You can have your father sign the warranty deed and transfer the property in trust to you. It will help you financially when you need to sell the property in order to get a lump sum cash amount.
Posted on: 10th Jan, 2007 08:53 pm
Hi Logcabin,

Logcabin, if the trust is revocable, then your father or the trustor has the right to cancel it. This will give your father the right to resume ownership of the trust property. You can then ask him to sign over a warranty deed and transfer you the property so that you can sell in case it is required. Do explain him why you wish to have the property transferred to you.


Posted on: 14th Jan, 2007 09:07 am
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