Posted on: 22nd Feb, 2012 08:51 pm
We purchased a house a while back in Texas for my single daughter to live in. The house was paid in cash (no mortgage). Both father and daughter are named on the deed as owners.
Now Dad is getting up in years and wishes to unwind the current deed and enter into a Lady Bird Deed to pass the property someday in the future to same daughter.
What do we need to do to make all this happen? Quit Claim the house back to Dad then file a new Lady Bird Deed? Or something else?
Thanks!
Now Dad is getting up in years and wishes to unwind the current deed and enter into a Lady Bird Deed to pass the property someday in the future to same daughter.
What do we need to do to make all this happen? Quit Claim the house back to Dad then file a new Lady Bird Deed? Or something else?
Thanks!
Hi aja!
Welcome to forums!
A ladybird deed can definitely be used to get the property transferred to the daughter. The father should contact a real estate attorney and he will help him in drafting the ladybird deed. He will also guide you in knowing whether or not the daughter needs to transfer the property to the father using a quitclaim deed and then the father needs to sign the ladybird deed in the daughter's favor.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A ladybird deed can definitely be used to get the property transferred to the daughter. The father should contact a real estate attorney and he will help him in drafting the ladybird deed. He will also guide you in knowing whether or not the daughter needs to transfer the property to the father using a quitclaim deed and then the father needs to sign the ladybird deed in the daughter's favor.
Feel free to ask if you've further queries.
Sussane
Sussane;
Thanks for the welcome and reply.
I'll have to investigate that avenue (needing to quick claim back to me (Dad)) before filing a Lady Bird Deed. I wish I would have known about the Lady Bird Deed when we purchased the property.
Thanks for the welcome and reply.
I'll have to investigate that avenue (needing to quick claim back to me (Dad)) before filing a Lady Bird Deed. I wish I would have known about the Lady Bird Deed when we purchased the property.
Hi Guest!
Welcome back to forums!
I can understand your feelings. But your best option will be to contact a real estate attorney in regards to a ladybird deed.
Feel free to ask if you've further queries.
Sussane
Welcome back to forums!
I can understand your feelings. But your best option will be to contact a real estate attorney in regards to a ladybird deed.
Feel free to ask if you've further queries.
Sussane