Posted on: 24th Feb, 2010 06:30 pm
I am terminally ill and would like my house to go to my daughter if I should pass. I also have a son but he grew up with his father in another house. This is the house that my daughter grew up in. My house has a mortgage. I do have a lot of debt and do not want her burdened with all of that. I just want her to get the house and that is it. Is there any way to do this quickly?
Welcome dnalley,
You can sign a quit claim deed in your daughter's favor transferring the property to her. This will make her the sole owner of the property. You can add a life estate clause to the deed which will help you in staying in the property until your death. After your death, the clause will become null and void and she would be responsible for the property. She can even refinance the loan in her name.
You can sign a quit claim deed in your daughter's favor transferring the property to her. This will make her the sole owner of the property. You can add a life estate clause to the deed which will help you in staying in the property until your death. After your death, the clause will become null and void and she would be responsible for the property. She can even refinance the loan in her name.
Quit Claim Deed
