Posted on: 21st Aug, 2009 10:13 am
three people involved:
clifford-age 52
his mother age 72
myself, married to the mother, clifford is my step son.
we married about 18 years ago.
_______________________________________________
clifford bought a house for $20 k and my wife without my knowledge gave him $40,000 to fix up a broken down house, which is apprasidsed for $72,000. clifford is on social security disability income and could never pay her back unless he sells the home. clifford said his mother and i can have a quit claim deed in case he dies before he sells the home. clifford as suppose to sell the home after fixing it up and buy a moble home, but he has changed his mind <again> on what he is supppose to do.
should his mother and i get a quit claim deed or a warantee deed. also, what are the disadvantages of each. would we be responsible for liability if someone is hurt on the property? would we be responsible for back taxes if any.
thank you
clifford-age 52
his mother age 72
myself, married to the mother, clifford is my step son.
we married about 18 years ago.
_______________________________________________
clifford bought a house for $20 k and my wife without my knowledge gave him $40,000 to fix up a broken down house, which is apprasidsed for $72,000. clifford is on social security disability income and could never pay her back unless he sells the home. clifford said his mother and i can have a quit claim deed in case he dies before he sells the home. clifford as suppose to sell the home after fixing it up and buy a moble home, but he has changed his mind <again> on what he is supppose to do.
should his mother and i get a quit claim deed or a warantee deed. also, what are the disadvantages of each. would we be responsible for liability if someone is hurt on the property? would we be responsible for back taxes if any.
thank you
artwiden
As of today you do not hold any equity in the house in legal term so what i believe is you will not get the claim on the house until and unless clifford sign it for you.
Waranty deed is a good option but you need to think that whether he is really ready to offer it or not?
At this moment all the things are depending on clifford's decision. sorry to say this but you are just at receiver's end so I think you do not have really any choice rather waiting for your step son's action.
As of today you do not hold any equity in the house in legal term so what i believe is you will not get the claim on the house until and unless clifford sign it for you.
Waranty deed is a good option but you need to think that whether he is really ready to offer it or not?
At this moment all the things are depending on clifford's decision. sorry to say this but you are just at receiver's end so I think you do not have really any choice rather waiting for your step son's action.
thanx