In Massachusetts - the benefits of a Quitclaim Deed....1. protects nursing homes from going after the home as an asset (once 5 years passes) , 2. When the person dies...the children own the property immediately and keeps it out of probate. So those are at least some advantages...I'm sure that varies by state though.
I would disagree with you a little on this. A quitclaim deed conveys ownership at the time it was signed. So point number 2 you made isn't accurate. The children own the property upon the execution of the deed, not when the owner dies.
Hi and thank you for your video. I have a really crazy situation that maybe you can give me some advice on. I’ll give you the short version. Four years ago I bought a house with 100 acres on it. About two years ago one of our neighbors who lives about a half mile away. Came to my house to inform me that his family owns 20 acres or more of my hundred acres of property. They have a quit claim deed I have a warranty deed. But here in Kentucky the courts are siding with him. About six months ago the PVA cut him 20 acres of my property and a tax bill. I have a copy of his quit claim deed and the Burbage isn’t even close for the description of the property. It’s like I’m living in the twilight zone.
Wait so ..if I signed this quit claim deed I'm gonna owe the back taxes right ..?? My uncle is screwing me over I think my granny left me her house and I never knew n the times I was homeless 😢😢
When my father died five years ago my mother had him taken off the deed and had my name put on with hers as co-owner in case she died so the house would pass to me. Seeing your video that may not have been such a good idea. Now she wants to sell the house for $240k which is paid off but if she does will I have to pay any type of capital gain tax even if all the money goes to her? Or would it be better to have my name removed from the deed with a quitclaim deed before she sells? She never filed any type of gift notification to the IRS when she added me because neither of us even knew about such a thing or if that was even required. Thanks for any advice.
what if there was a quit claim deed made to a son by his mother.. then the son passed away with now will before the mother.. will her will that was written before the quit claim deed trump the quit claim deed?? please.. thank you (Tennessee)
what if the grantor, my decedent father´s wife, transfers her property which I am entitled half of its value according to Florida Statutes "If there are one or more surviving descendants of the decedent who are not lineal descendants of the surviving spouse, one-half of the intestate estate."?
I'm not sure what you're asking. Is this your step-mom? Did she own property and die? Who did it go to? Did she have a Will? Lots of questions. Best answer - talk to a FL attorney.
I just purchased a property with Joint Tenancy With the Right of Survivorship with both my parents for us to live in while I care for them. I’m thinking I should have them do a Quit Claim Deed now so their portion of the property doesn’t go into probate?? Also, they have debt, can the creditors come after the property if they pass away with debt?
I'd make sure to consult with an attorney in your state, but my initial thoughts are this: 1. JTWRS means the property goes to you automatically when they die. 2. If they have debt, creditors COULD come after the property. Usually depends on the size of the debt and the type of debt. Cheers.
Hi, hopefully you see my question. My husband quitclaim deed my house (my house because I bought it before I was married) But I notice the quitclaim deed said is his if a died I don't want that to happen 😔 I just wanted the deed to say he quits his "rights" if I die I want my daughter to have the house. If I make a will will that be enough or the deed over-rights de will??
My mom gave me her house via quitclaim deed last month because she was moving out of the country and meant to never move back. She changed her mind and now wants to move back into her house, which is fine and what we're planning to do. Because my name is on the deed as owner, and she's going to be living there again as her permanent residence, should I quitclaim deed the house back to her so she can then get back the tax benefits? The entire situation seems like a huge mess and I just want to clean it up and make it right for everyone.
I purchased a property under a warranty deed in 2016 with the agreement that the grantor (my father) would continue to reside in the property until he die then I will obtain the property however I found that in 2019 the grantor completed a quit claim deed to another relative (a cousin) without my approval. The grantor died in Jan 2023 and put in his will that the property will need to be sold. However the relative/cousin has moved into the property and told me that I have no rights to the property since her deed is the most recent deed. Is this true? Does my warranty deed mean nothing at this point? Can she really deny me access to the property?
Can you gift it to a stranger? I wanted to do the questionnaire, but I seemingly need to see the deed; based on your verbiage. I'd love to hear more. Thank you, Sir
Nobody in my family cares to seek out the sort(s) of Estate Planning available. No worries except for the fact that medi goes back 5 years. Should we protect her within an LLC? (Small fish in a big pond, here...)
My mom died in 2019. Before her death her and my dad divorced and my sister was listed as right of survivorship on a quitclaim deed. Do I have any rights to the house at all? My sister is now not paying bills and the lights and water are cut off and I'm hearing it could be condemned! Is there anything I can do to gain rights to the house? Please help
Tax cost basis is based on the date the property was acquired. TOD does seem to have advantages over a QCDeed. However TOD falls short compared to a QC if the parent becomes incapacitated. The house will be in limbo if funds are needed to care for the parent until said parent dies!! Warning for TOD folks.
You're really talking about two different things. If parent becomes incapacitated, assuming you had a power of attorney, you could always get a HELOC to access the equity of the home. The house won't be in limbo. The house could also be sold. And, finally, the parents could qualify for assistance and deal with those bills after death. Lots of options out there. :)
Hello, my parents just paid of their mortgage here in Las Vegas and want to get their affairs in order. So they are looking into a quitclaim which the lender had suggested. But after watching I’m glad they haven’t. You mentioned the Transfer of deed. Do you think that is a better way to go if they want to split it between 3 kids? Does that avoid Probate and going to court? Or do you Suggest just doing a living trust? Thank you in advance.
Depends. First, I don't know if you can do a TOD in NV. It varies state by state. Second, if you can, I'd make sure all the kids are on the same page with what to do with the house - if you can't agree, it can be a bad idea. Third, you'll want to decide whether a good idea to do trust based on 1 and 2. I'd talk to a lawyer to make sure!
@@CMSLawFirmLLC Uh yeah. Wanted to set up a trust and lawyer shot me down stating q.c.d. was the answer. 😅 In Col. and it is possible we may sell paid off property. Will there be legal issues to q.c. to new owner? t.y.
After quickclaim deed few years ago with parents, (major mistake) the cost basis of the property was purchased for 25k. Neighborhood value of homes in the area are now 1.2 million. Understanding capital gains tax, what happens if the property sells for way under market value let’s say 700k? When selling, Do I pay capital gains tax on the value of home or purchase price? Thank you!
I'd definitely consultant an accountant on this. With that being said, I believe the tax basis in your circumstance would be $25k (i.e. the capital gains calculation is made off of purchase price). But PLEASE consult an accountant before doing anything.
I just recently found out that my mother put my brother on the deed of the house as a co-owner and not her 2 other children. I have tried to explain to my mother that she has given her property to her son and left out her 2 other children and she doesn't seem to see my concern. Would a will trump the deed if in a will or trust the property is deeded to all 3 of her children.?and i guess i have another question. My brother has a business and if he is sued by a customer or has tax issues and the IRS comes knocking could my mother lose her property?
Yes the OP mentioned the problem of bankruptcy and lien by the new owner. Yep your brother could mess up title if he ever gives it to you or what’s left of it.
Deed controls. Sounds to me like she knows exactly what she's doing. Not necessarily good for you, but it's her house. :) To answer question #2 - yes, his share of the home would potentially be attachable by creditors.
@@jennyeyesxfirepioneer6934 It won't open up litigation. The siblings just won't get any of the house. But remember, they don't have any "right" to the house - it's mom's to do what she wants to with it.
My sister bullied /pressured my mom into signing her house over to my sisters name she told my mother it was for her protection then wants my mom to get a cognitive test done pretty much deeming her incompetent I refuse to do that to her because she is of complete sight/mind/health nothing wrong with her
Can Iwe qcd my father's home to me while he's alive and avoid the VA's 5 year look back process when he's wanting to enter a VA elderly facility in the future?
my mom who is also my agent with POA for myself and my brother, quitclaimed me our property and then 9 months later , my mom and brother filed suit against me to remove me from the deed claiming that mom did not have POA to sign his signature . The deed was notarized but mom did not include POA documents when it was recorded.. The notary is my moms sister and she refuses to get involved or testify as to the existence of a POA . I am going to lose my 1/3 share of a 500000 dollar property and have spent 25k in lawyer fees. Any advice?
My father is interested in passing down his house with a mortgage to me so he can live in an apartment. What's the best option for for me to acquire his house, so that we both save money on taxes, fees, etc? Would you say him selling me house for a dollar as a gift or is a quitclaim deed better? Thank you
How do quitclaim deeds affect unmarried couples if one party surrenders their interest on the property over to the other party? Will any one of them owe taxes assuming the property is not sold.
I already did this and My daughter has stolen my family home from me. Is there anything I can do to get My home back from her? I Am homeless now and have been for over five years now.
My mother was deemed with aphasia and dementia in the year 2018 by Dr my sister talked her into going to a lawyer in 2020 and signing a new will and also adding a quick claim deed. Can I fight the quit claim deed??? I do have medical records to prove that she was on medicine, 5 mg and then also bumped up meds to 10 mg as she worsened prior to signing quit claim deed. she passed away June 30, 2023.
My father died left his property to his three children. 2 of the children don't what the house. Can I use a quick claim deed for their interest in the property
Most likely no. I'd talk to a probate attorney in your state to see what you need to do. Usually there are some procedural things that MUST be done to properly transfer real estate.
If my mother bought her house before getting married to my stepfather and she is the only one still on the deed, can she do a transfer of death deed to me?
It depends. Depends on what state you're in, if any money was contributed by the stepfather, and a couple of other things. I'd talk to an estate planning attorney first.
Can I lose my property if I do not go to. I miss some court date the judge gave my brother the right to sell my home without any help he has a quick claim deed my mother left him 25% can he sell my home
My Mother quitclaim deeded me her property which we all live in. We have a life estate for her in place with her being the life tenant. Are we allowed to take out a mortgage on the property?
My mom die she pay for a quit claim deed and she has a will for her 3 sons the oldest son IN TRUST of the youngest son he 36 now does he have the right to put the house in his name
My mom and I bought a house when l was single and we’re both in the deed. She’s starting to have memory issues. I was told to get a quit claim deed to get her name out of the deed in the event I need to sell the house if her condition progresses to advanced dementia. Is this true?
Step 1 - talk to a lawyer in your state (tell me where you're from and I can refer). But, to answer your question generally... it might not be a bad idea. Talk to a lawyer first!
Could one quitclaimthe parents remainding ownership to a child's LLC so they dont trigger reassement (50 child 50 child's LLC) keep prop taxes lower 1/2 step up and capital gains, stay in home, use equity credit for parents care, etc. ? IDK but this is a common issue especially w Prop 19. Thanks for any and all
@@myobmyob2215 this is a CA question and I'm not a CA lawyer, so I can't answer to the reassessment. I don't see how you'd get the 1/2 step up though. And you might be able to do the rest, but if the child had problems with credit/lawsuits or died the parents could be in a tough spot... I'd talk to a CA lawyer.
@@CMSLawFirmLLC Thanks maybe step up is lost w LLC? Yes kids could get in trouble but if P is very elderly and C is much older both are more concerned with health care costs not risky behavior
It would seem like the best route is a beneficiary deed or a payable on death deed regardless. I'm just learning about this myself, but it seems like the whole entirety of your mom's estate can be transferred to you this way while avoiding any debt or probate. If you do a quick claim, it sounds like 3rd party entities can attempt to take ownership of her half.
Hi, hopefully you see my question. My husband quitclaim deed my house (my house because I bought it before I was married) But I notice the quitclaim deed said is his if a died I don't want that to happen 😔 I just wanted the deed to say he quits his "rights" if I die I want my daughter to have the house. If I make a will will that be enough or the deed over-rights de will??
In Massachusetts - the benefits of a Quitclaim Deed....1. protects nursing homes from going after the home as an asset (once 5 years passes) , 2. When the person dies...the children own the property immediately and keeps it out of probate. So those are at least some advantages...I'm sure that varies by state though.
I would disagree with you a little on this. A quitclaim deed conveys ownership at the time it was signed. So point number 2 you made isn't accurate. The children own the property upon the execution of the deed, not when the owner dies.
You are WRONG
Excellent. Thank you for sharing this helpful insight and information.
You're welcome!
Hi and thank you for your video. I have a really crazy situation that maybe you can give me some advice on. I’ll give you the short version. Four years ago I bought a house with 100 acres on it. About two years ago one of our neighbors who lives about a half mile away. Came to my house to inform me that his family owns 20 acres or more of my hundred acres of property. They have a quit claim deed I have a warranty deed. But here in Kentucky the courts are siding with him. About six months ago the PVA cut him 20 acres of my property and a tax bill. I have a copy of his quit claim deed and the Burbage isn’t even close for the description of the property. It’s like I’m living in the twilight zone.
Hopefully you have title insurance - they should pay you out if they messed up.
You did a title search before you bought the property, right?
My mom did this to my sister and stacked her with thousands of dollars of her debts
I'm sorry to hear that. That's why I made this video...
What is a clean way to un-do such a transfer? We already made the mistake and would like to fix it! (My mom is still living).
Wait so ..if I signed this quit claim deed I'm gonna owe the back taxes right ..?? My uncle is screwing me over I think my granny left me her house and I never knew n the times I was homeless 😢😢
This hole time
What if the property is already paid off
Your Great 👍🏿 Chris. I love your energy.
Thanks!
@@CMSLawFirmLLC does every state honor TODD? if it applies to NC.
what about lady bird deed? is it the same as TOD ?
When my father died five years ago my mother had him taken off the deed and had my name put on with hers as co-owner in case she died so the house would pass to me. Seeing your video that may not have been such a good idea. Now she wants to sell the house for $240k which is paid off but if she does will I have to pay any type of capital gain tax even if all the money goes to her? Or would it be better to have my name removed from the deed with a quitclaim deed before she sells? She never filed any type of gift notification to the IRS when she added me because neither of us even knew about such a thing or if that was even required.
Thanks for any advice.
I have ideas but this is a question for a CPA. Ask them.
That is a lie. If i sell the house the money still is mine unless i die.
If you give your house to your kids it is no longer your house... that's what we're talking about here.
what if there was a quit claim deed made to a son by his mother.. then the son passed away with now will before the mother.. will her will that was written before the quit claim deed trump the quit claim deed?? please.. thank you (Tennessee)
what if the grantor, my decedent father´s wife, transfers her property which I am entitled half of its value according to Florida Statutes "If there are one or more surviving descendants of the decedent who are not lineal descendants of the surviving spouse, one-half of the intestate estate."?
I'm not sure what you're asking. Is this your step-mom? Did she own property and die? Who did it go to? Did she have a Will? Lots of questions.
Best answer - talk to a FL attorney.
I just purchased a property with Joint Tenancy With the Right of Survivorship with both my parents for us to live in while I care for them. I’m thinking I should have them do a Quit Claim Deed now so their portion of the property doesn’t go into probate?? Also, they have debt, can the creditors come after the property if they pass away with debt?
I'd make sure to consult with an attorney in your state, but my initial thoughts are this:
1. JTWRS means the property goes to you automatically when they die.
2. If they have debt, creditors COULD come after the property. Usually depends on the size of the debt and the type of debt.
Cheers.
What if a child gets quitdeeded the entire property, do they own it completely? Can the parent go back after quitdeeding it
Thanks, sounds like sound advice!
You're welcome!
Hi, hopefully you see my question.
My husband quitclaim deed my house (my house because I bought it before I was married)
But I notice the quitclaim deed said is his if a died I don't want that to happen 😔 I just wanted the deed to say he quits his "rights" if I die I want my daughter to have the house. If I make a will will that be enough or the deed over-rights de will??
Definitely reach out to an attorney in your state and do what you need to to make sure your property goes where you want it to when you die.
@CMSLawFirmLLC my lawyer said differently!
My mom gave me her house via quitclaim deed last month because she was moving out of the country and meant to never move back. She changed her mind and now wants to move back into her house, which is fine and what we're planning to do. Because my name is on the deed as owner, and she's going to be living there again as her permanent residence, should I quitclaim deed the house back to her so she can then get back the tax benefits? The entire situation seems like a huge mess and I just want to clean it up and make it right for everyone.
I think you should talk to a lawyer in your state to get a good idea of your different options. And I will say I think you are on the right track...
How can you sale a quit claim deed property?
Up your volume! Thanks
Will do, thanks!
Good morning I live in Florida and what to buy land from my grandmother, can you suggest the best way to go about it.
Talk to an estate planning lawyer in your state is what I'd do first. I recommend Melissa O'Connor.
@@CMSLawFirmLLC thank you very much, I'll look into it! 🤗
A dozen other Layers on UA-cam saying NEVER do a transfer on death deed.... 🤔
Why? I can tell you why... it amounts to WAY less money for them in the long fun. :)
@@CMSLawFirmLLC SO you think the points they make as to the possible problems that can arise are just them lying to make money?
I purchased a property under a warranty deed in 2016 with the agreement that the grantor (my father) would continue to reside in the property until he die then I will obtain the property however I found that in 2019 the grantor completed a quit claim deed to another relative (a cousin) without my approval. The grantor died in Jan 2023 and put in his will that the property will need to be sold. However the relative/cousin has moved into the property and told me that I have no rights to the property since her deed is the most recent deed. Is this true? Does my warranty deed mean nothing at this point? Can she really deny me access to the property?
Can you gift it to a stranger? I wanted to do the questionnaire, but I seemingly need to see the deed; based on your verbiage. I'd love to hear more. Thank you, Sir
Transfer on Death deed. Thank you
Nobody in my family cares to seek out the sort(s) of Estate Planning available. No worries except for the fact that medi goes back 5 years. Should we protect her within an LLC? (Small fish in a big pond, here...)
You could gift it to a stranger, I guess. What else would you like to hear?
My mom died in 2019. Before her death her and my dad divorced and my sister was listed as right of survivorship on a quitclaim deed. Do I have any rights to the house at all? My sister is now not paying bills and the lights and water are cut off and I'm hearing it could be condemned! Is there anything I can do to gain rights to the house? Please help
I'd talk to an attorney in the state you live in to get certainty on a question like this. Good luck!
@@CMSLawFirmLLC thank you
@@mysteriousness1317 you're welcome!
Tax cost basis is based on the date the property was acquired. TOD does seem to have advantages over a QCDeed. However TOD falls short compared to a QC if the parent becomes incapacitated. The house will be in limbo if funds are needed to care for the parent until said parent dies!! Warning for TOD folks.
You're really talking about two different things. If parent becomes incapacitated, assuming you had a power of attorney, you could always get a HELOC to access the equity of the home. The house won't be in limbo. The house could also be sold. And, finally, the parents could qualify for assistance and deal with those bills after death. Lots of options out there. :)
Thank you
You're welcome!
What about putting the property in an LLC and then transferring ownership of the LLC to your adult child?
Same problem as I stated in the video related to step up in basis.
Hello, my parents just paid of their mortgage here in Las Vegas and want to get their affairs in order. So they are looking into a quitclaim which the lender had suggested. But after watching I’m glad they haven’t. You mentioned the
Transfer of deed. Do you think that is a better way to go if they want to split it between 3 kids? Does that avoid
Probate and going to court? Or do you Suggest just doing a living trust? Thank you in advance.
Depends.
First, I don't know if you can do a TOD in NV. It varies state by state.
Second, if you can, I'd make sure all the kids are on the same page with what to do with the house - if you can't agree, it can be a bad idea.
Third, you'll want to decide whether a good idea to do trust based on 1 and 2. I'd talk to a lawyer to make sure!
@@CMSLawFirmLLC Uh yeah. Wanted to set up a trust and lawyer shot me down stating q.c.d. was the answer. 😅
In Col. and it is possible we may sell paid off property. Will there be legal issues to q.c. to new owner? t.y.
After quickclaim deed few years ago with parents, (major mistake) the cost basis of the property was purchased for 25k. Neighborhood value of homes in the area are now 1.2 million. Understanding capital gains tax, what happens if the property sells for way under market value let’s say 700k? When selling, Do I pay capital gains tax on the value of home or purchase price? Thank you!
I'd definitely consultant an accountant on this. With that being said, I believe the tax basis in your circumstance would be $25k (i.e. the capital gains calculation is made off of purchase price).
But PLEASE consult an accountant before doing anything.
I just recently found out that my mother put my brother on the deed of the house as a co-owner and not her 2 other children. I have tried to explain to my mother that she has given her property to her son and left out her 2 other children and she doesn't seem to see my concern. Would a will trump the deed if in a will or trust the property is deeded to all 3 of her children.?and i guess i have another question. My brother has a business and if he is sued by a customer or has tax issues and the IRS comes knocking could my mother lose her property?
No. A Will will not trump the grant deed. If the Will has language that conflicts with the grant deed then this could open up sibling litigation.
Yes the OP mentioned the problem of bankruptcy and lien by the new owner. Yep your brother could mess up title if he ever gives it to you or what’s left of it.
Deed controls. Sounds to me like she knows exactly what she's doing. Not necessarily good for you, but it's her house. :)
To answer question #2 - yes, his share of the home would potentially be attachable by creditors.
@@jennyeyesxfirepioneer6934 It won't open up litigation. The siblings just won't get any of the house. But remember, they don't have any "right" to the house - it's mom's to do what she wants to with it.
My sister bullied /pressured my mom into signing her house over to my sisters name she told my mother it was for her protection then wants my mom to get a cognitive test done pretty much deeming her incompetent I refuse to do that to her because she is of complete sight/mind/health nothing wrong with her
You should go talk to a lawyer in your state ASAP.
Can Iwe qcd my father's home to me while he's alive and avoid the VA's 5 year look back process when he's wanting to enter a VA elderly facility in the future?
Nope. All gifts are treated equally for lookback.
my mom who is also my agent with POA for myself and my brother, quitclaimed me our property and then 9 months later , my mom and brother filed suit against me to remove me from the deed claiming that mom did not have POA to sign his signature . The deed was notarized but mom did not include POA documents when it was recorded.. The notary is my moms sister and she refuses to get involved or testify as to the existence of a POA . I am going to lose my 1/3 share of a 500000 dollar property and have spent 25k in lawyer fees. Any advice?
My father is interested in passing down his house with a mortgage to me so he can live in an apartment.
What's the best option for for me to acquire his house, so that we both save money on taxes, fees, etc? Would you say him selling me house for a dollar as a gift or is a quitclaim deed better?
Thank you
They are both not great ideas. Both are gifts. Talk to a lawyer in your state to strategize correctly.
@@CMSLawFirmLLC what’s a general solution to this question from your expertise ?
Im being served papers to sign a quit claim deed ..my uncle is wanting me to sign..i already signed two papers ..but now i have these two papers
I need help so bad I'm a single mom and don't have 4k up front
You should be able to get an attorney to look at the paperwork for a couple hundred bucks.
How do quitclaim deeds affect unmarried couples if one party surrenders their interest on the property over to the other party? Will any one of them owe taxes assuming the property is not sold.
It depends. I'd talk to an estate planning attorney in your state (feel free to call us if you're in WA state).
I already did this and My daughter has stolen my family home from me.
Is there anything I can do to get My home back from her? I Am homeless now and have been for over five years now.
So sorry to hear that.
Talk to a lawyer and see if they can help.
My mother was deemed with aphasia and dementia in the year 2018 by Dr my sister talked her into going to a lawyer in 2020 and signing a new will and also adding a quick claim deed. Can I fight the quit claim deed??? I do have medical records to prove that she was on medicine, 5 mg and then also bumped up meds to 10 mg as she worsened prior to signing quit claim deed. she passed away June 30, 2023.
No, mother's wishes!
My father died left his property to his three children. 2 of the children don't what the house. Can I use a quick claim deed for their interest in the property
Most likely no. I'd talk to a probate attorney in your state to see what you need to do. Usually there are some procedural things that MUST be done to properly transfer real estate.
That's why you don't put nobody name on your real estate. You leave it in a will. Don't be a moron.
Good. A little more volume please.
Thank you!
In Georgia what the would I use to transfer our own house out of our name into my LLC. Also if taxes are owed on the house can I still do it
If my mother bought her house before getting married to my stepfather and she is the only one still on the deed, can she do a transfer of death deed to me?
It depends. Depends on what state you're in, if any money was contributed by the stepfather, and a couple of other things. I'd talk to an estate planning attorney first.
Can I lose my property if I do not go to. I miss some court date the judge gave my brother the right to sell my home without any help he has a quick claim deed my mother left him 25% can he sell my home
i don't know, but you should talk to a lawyer RIGHT NOW in your state.
Does the house needs to be payed off? Who approves this document?
Depends on your state. I'd contact an estate planning attorney in your state for help.
My Mother quitclaim deeded me her property which we all live in. We have a life estate for her in place with her being the life tenant. Are we allowed to take out a mortgage on the property?
I'd talk to a lender and see what they say.
why the hell would you take a mortgage, are you dumb?
Low sound, more please
Thank you!
Does the transfer on death need to recorded right away or is it valid if not recorded in a number of years?
Record it now. It's better for everyone. With a TODD you can revoke it later if you want (check with an attorney in your state to verify this).
Are TODD available in Florida?
My sister went behind my back and took my name off of my mom and dad's property they got a jack lawyer what do I do about this
My mom die she pay for a quit claim deed and she has a will for her 3 sons the oldest son IN TRUST of the youngest son he 36 now does he have the right to put the house in his name
My mom and I bought a house when l was single and we’re both in the deed. She’s starting to have memory issues. I was told to get a quit claim deed to get her name out of the deed in the event I need to sell the house if her condition progresses to advanced dementia. Is this true?
Step 1 - talk to a lawyer in your state (tell me where you're from and I can refer).
But, to answer your question generally... it might not be a bad idea.
Talk to a lawyer first!
We live in VA. Thanks
Could one quitclaimthe parents remainding ownership to a child's LLC so they dont trigger reassement (50 child 50 child's LLC) keep prop taxes lower 1/2 step up and capital gains, stay in home, use equity credit for parents care, etc. ? IDK but this is a common issue especially w Prop 19. Thanks for any and all
@@myobmyob2215 this is a CA question and I'm not a CA lawyer, so I can't answer to the reassessment. I don't see how you'd get the 1/2 step up though. And you might be able to do the rest, but if the child had problems with credit/lawsuits or died the parents could be in a tough spot... I'd talk to a CA lawyer.
@@CMSLawFirmLLC Thanks maybe step up is lost w LLC? Yes kids could get in trouble but if P is very elderly and C is much older both are more concerned with health care costs not risky behavior
When someone pay for the land tax on a property can someone do a quick claim deed on the property ?
Whoever owns the property must pay the taxes.
"Not quit claim deeding"?
My mom owns land in Arizona free & clear. She wants to transfer ownership to me. What would be the best way to it? Quit claim deed?
It would seem like the best route is a beneficiary deed or a payable on death deed regardless. I'm just learning about this myself, but it seems like the whole entirety of your mom's estate can be transferred to you this way while avoiding any debt or probate. If you do a quick claim, it sounds like 3rd party entities can attempt to take ownership of her half.
We have a Packers house. I will contact you directly. The generalities here seem moot.
Sounds good.
Hi, hopefully you see my question.
My husband quitclaim deed my house (my house because I bought it before I was married)
But I notice the quitclaim deed said is his if a died I don't want that to happen 😔 I just wanted the deed to say he quits his "rights" if I die I want my daughter to have the house. If I make a will will that be enough or the deed over-rights de will??
Sorry for taking so long! You should talk to a lawyer - it's too tricky to explain in these comments.