Posted on: 05th Dec, 2008 04:07 pm
:?: I want to deed my home to my brother without requiring him to pay.
Can I give him warranty deed for a sum less than $100.00 and accept $1.00 from him as payment in full?
titler in Michigan
Can I give him warranty deed for a sum less than $100.00 and accept $1.00 from him as payment in full?
titler in Michigan
Hi titler!
Welcome to forums!
You can simply use a quitclaim deed to transfer the property in your brother's name. As you do not require him to pay, I think the quitclaim deed will be the best in your case. You can get sample quitclaim deed forms online as well. However, you can also take the help of an attorney to draft the quitclaim deed.
Once you fill it up, you will have to notarize it and record it at the county recorder's office.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
You can simply use a quitclaim deed to transfer the property in your brother's name. As you do not require him to pay, I think the quitclaim deed will be the best in your case. You can get sample quitclaim deed forms online as well. However, you can also take the help of an attorney to draft the quitclaim deed.
Once you fill it up, you will have to notarize it and record it at the county recorder's office.
Feel free to ask if you have further queries.
Sussane
Yes. However, you do not need to specifiy any consideration (ie money) in the deed. Just leave it blank or put in $1.00 and have him pay you that.
what is the time limit needed to redeed property to a child to prevent
nursing home forcing sale
nursing home forcing sale
Hi fran,
If you are planning to take Medicaid, then it has a look back period of 5 years. Any transfer of property within 5 years will result in a waiting period. You can also check out the following link to know more:
http://www.mortgagefit.com/quitclaim/takeaway-home.html
If you are planning to take Medicaid, then it has a look back period of 5 years. Any transfer of property within 5 years will result in a waiting period. You can also check out the following link to know more:
http://www.mortgagefit.com/quitclaim/takeaway-home.html