She wants to put the house into my name now so there are no problems later. I am not sure how to go about transferring the house into my name .
2007-11-16 06:30:11 · 11 answers · asked by sweetpea 3 in Business & Finance ➔ Renting & Real Estate
This is not the place to get a comprehensive answer (unless it's a lawyer whose specialty is real estate law answering it...) Seek the help of an attorney or CPA. Any mistakes could cost you dearly.
2007-11-16 06:34:04 · answer #1 · answered by trentrockport 5 · 0⤊ 1⤋
All you have to do is sign a quit-claim deed adding your name to the title.
When she dies, the house will automatically become yours.
I would HIGHLY encourage you not to quit claim your name on, and hers off...that is not a proper transfer of property and you will run into title problems later that can stop the sale of the home if you decide to sell later.
2007-11-16 06:50:30 · answer #2 · answered by Expert8675309 7 · 0⤊ 0⤋
consider having an estate attorney put the house in a trust with you as the beneficiary.
as the beneficiary of the trust, when mom is no longer here, the house will be yours.
you need to consult an estate attorney.
you need to act quickly, so the house will not go to probate.
2007-11-16 13:25:59 · answer #3 · answered by ramni222 6 · 0⤊ 0⤋
Have her sign a quit claim deed and have it recorded with your county clerk and recorder (or the equivalent).
This document transfers any and all rights that your mom has to the grantee(s) listed on the quit claim.
Any local real estate attorney or title company can provide you with the appropriate form and instructions for filing the document.
NOTE HOWEVER that your mom has to meet the legal requirements to enter into a contract (i.e. she has to be competent, not under undue duress, not under the influence of drugs/alcholol, etc.).
2007-11-16 06:39:34 · answer #4 · answered by Homer J. Simpson 6 · 0⤊ 0⤋
You can't do that without paying taxes on the value of the house. Estate taxes will be lower than what you would have to pay were she to gift it to you today. Have her do a will, as a frist step, so their won't be problems later (just as easy to do now as transfering the house would be).
2007-11-16 06:34:38 · answer #5 · answered by Fred S - AM Cappo Di Tutti Capi 5 · 1⤊ 1⤋
She needs to make a living will and leave the house 100 percent to you .She need to make you the one in charge of her estate
2007-11-16 06:34:31 · answer #6 · answered by Crazy cat lady >^ ^< 4 · 0⤊ 1⤋
Call a local real estate lawyer and tell them your mother wants to quick claim her home to you. They will know what to do, and it should be relatively inexpensive.
2007-11-16 09:18:45 · answer #7 · answered by frankie b 5 · 0⤊ 0⤋
You need the advice of a lawyer more than a CPA. Don't try to do anything like this without legal advice.
2007-11-16 06:38:35 · answer #8 · answered by Anonymous · 1⤊ 1⤋
You need to do a "Quit Claim" deed that can be done at any courthouse. Call a mortgage company near you and ask for advice.
2007-11-16 06:34:25 · answer #9 · answered by Deb S 6 · 1⤊ 1⤋
THE ONLY THING TO DO IS SPEAK TO AN ESTATE PLANNING ATTORNEY, anything else can cause problems
2007-11-16 06:44:20 · answer #10 · answered by mscarriem 3 · 1⤊ 0⤋