Compare Mortgage Quotes

Refinance Rates for Today

Please enable JavaScript for the best experience.

In the mean time, check out our refinance rates!

Company Loan Type APR Est. Pmt.

What is the best option for sharing ownership in a property?

Posted on: 26th Jun, 2007 11:55 am
My father recently passed away and left his home, which was in his name and my mother's. My mother wants to add my name and my sister's name to the title to aviod probate at some time in the future. Since the house is effectively in her name now, what is the best solution for adding my sister and myself to the title.
emdgp, if your mother now holds a clear title to this home then she can use a quit claim deed to include you and your sister to the title.

the title can be held as joints tenants between three of you which is a way by which probate proceedings can be avoided.

miller
Posted on: 26th Jun, 2007 12:08 pm
"'My mother wants to add my name and my sister's name to the title to aviod probate at some time in the future."

Yes holding title as joint tenants is a suitable option by which probate can be avoided.

If you need more information about how joint tenancy can help in bypassing probate procedure then please go through this page: http://www.mortgagefit.com/joint-tenancy.html
Posted on: 26th Jun, 2007 12:32 pm
If there is no mortgage on the house then a warranty deed can be used instead of quit claim deed. If however there is a mortgage then warranty deed cannot be used and a quit claim deed will have to be used.
Posted on: 26th Jun, 2007 02:07 pm
Hi emdgp,

First of all, your father's name has to be removed from the title and for that your mother has to file an Affidavit of heirship with the county recorder. Then your mother can easily sign a quitclaim deed to add you and your sister to the property title. By the way, has your father left a will?
Posted on: 27th Jun, 2007 03:02 am
No my father did not leave a will. But my understanding is that since the house was in both their names, she is the automatic heir. Is the affidavit of heirship a requirement?
Posted on: 28th Jun, 2007 07:25 pm
Hi,

As your father is now no more, his name first need to be removed from the house and it is very much required for your mother to file the Affidavit of heirship in her name totally. But, you can still talk to a lawyer to clarify your doubts regarding the heirship.
Posted on: 28th Jun, 2007 10:32 pm
"No my father did not leave a will. But my understanding is that since the house was in both their names, she is the automatic heir."
How was the title held between them? Was it held as joint tenants with rights of survivorship? If it was so then ownership has automatically passed on after father's death.

Thanks
Blue
Posted on: 29th Jun, 2007 06:53 pm
Page loaded in 0.086 seconds.