Posted on: 26th Aug, 2008 08:25 am
Can a parent put a child's name on the deed to his ranch, not have any money change hands, then will all the property to his wife in his death? In the will it stated that the child mentioned previously had 10 years to buy and pay for the ranch, giving Mom money to live on.
No, once you transfer the property interest to the child, it can no longer pass by will.
Can a parent simply add one of eight children's names to his property, giving them full ownership, even tho no money has changed hands?
Thank you
Thank you
Yes. Payment is not required to transfer a property interest.