Posted on: 12th Oct, 2010 04:49 pm
Hello I am from NY. How can I remove my name from the property a deed that has my name first then my moms, so my mom can qualify for property tax exemption. And how can i still retain some form of ownership? The house is paid off, never had a mortgage on it. What legal form or paperwork needs to be done, so in case she passes away suddenly i would still have ownership of this house?
Hi catzeyein,
You can sign a quitclaim deed in order to remove your name from the property deed and transfer the property to your mother. Once you sign the deed, you won't be able to retain any ownership. Your mother can draft a will and declare you as her beneficiary. Thus, after her death, you will be able to claim the property.
You can sign a quitclaim deed in order to remove your name from the property deed and transfer the property to your mother. Once you sign the deed, you won't be able to retain any ownership. Your mother can draft a will and declare you as her beneficiary. Thus, after her death, you will be able to claim the property.