2007-01-20 10:42:04 · 7 answers · asked by deeson 1 in Business & Finance ➔ Renting & Real Estate
You would need to get a quit claim deed, fill it out including the legal description of the property, from her to you. You need to have your grandmother and anyone else that is on the deed to sign it notorized. (take her to a notory public or have one come to you) After you have it signed and notorized, you take it to the accessors office and file it. Then it is yours to sell.
2007-01-20 11:00:49 · answer #1 · answered by Elaine W 3 · 1⤊ 0⤋
That sounds pretty heartless why would you sell your grandma's home?
If she is alive she needs to sell it to you via a legal conveyance. See a lawyer/realtor. Make sure your grandma has somewhere to live and take tax advice.
If she is dead then probate on the will needs to happen and if you were willed the house the deeds will be changed appropriately after all taxes have been paid.
2007-01-20 18:49:08 · answer #2 · answered by Biz Guru 5 · 0⤊ 1⤋
STOP before you make a big mistake.
I am going to assume that your grandma is still alive and that you are selling the house to help her, and that you want to give the proceeds of the house to her and/or use the proceeds for her. (If you are trying to take advantage of grandma, I hope you go to jail.)
If you have her quitclaim or deed the home to you, there is a very real argument that she made a gift to you. Then, since the home is in your name, the sale is arguably taxable to you--and you probably would not be eligible to use the tax exclusion for home sale gains (you probably don't meet the requirements). Then, if you give the proceeds back to her, you will have made a gift to her. So, she will use up part of her estate exemption, you will have a bunch of income tax to pay, and then you will use up part of your estate exemption.
(I have to admit that I have seen this before, and we did account for it as if the grandma had sold the house herself. But, it is much better if the paperwork backs up what you say instead of contradicting it and then having to argue over it with other parties, possibly including the IRS.)
So, don't have grandma deed the home to you.
Instead, your grandma should execute a limited power of attorney to you that gives you the power to sell her home on her behalf. This way, legally, everything stays in her name.
(By the way, even if grandma wants to give you the money from the house sale, it would probably still be better to sell the house in grandma's name if she meets the requirements to exclude gain on the home sale. She should sell the home and then give you the money.)
You should consider consulting with appropriate experts.
2007-01-20 20:00:12 · answer #3 · answered by Take Responsibility 2 · 0⤊ 2⤋
Be sure to put my name on Grannies place too, I want 1/2.
ha ha jk
Call a local real estate agent they'll help you for free. as long as Granny is legally able to transfer title, there is no problem.
2007-01-20 18:50:26 · answer #4 · answered by Anonymous · 0⤊ 1⤋
You can get Granny to "quit claim" her interest in the property and deed it to you.
2007-01-20 18:55:18 · answer #5 · answered by dreamdefender7 1 · 0⤊ 0⤋
Is your Grandma still alive?
2007-01-20 18:46:59 · answer #6 · answered by Cindy B 5 · 0⤊ 1⤋
get an estate lawyer. they can get you through it all.
2007-01-20 18:57:32 · answer #7 · answered by rocky 1 · 0⤊ 0⤋