Posted on: 18th Feb, 2010 12:06 pm
My older brother and I are joint owners of a house (which is up for sale).
We would like to add our other brother to the deed so when the house sells we would each receive one-third of the profits.
Would a grant deed accomplish this? Neither my older brother nor myself wish to convey ALL of our interests to our other brother -- just enough from each of us so that all three of us get an equal third.
We would like to add our other brother to the deed so when the house sells we would each receive one-third of the profits.
Would a grant deed accomplish this? Neither my older brother nor myself wish to convey ALL of our interests to our other brother -- just enough from each of us so that all three of us get an equal third.
Hi coupondebi,
Is the property free and clear? If the property is free and clear then you would be able to use a grant deed to add your brother to the property deed. While you sell off the property, the sale proceeds will be divided amongst the three of you. If there is a mortgage on the property, then you will have to use a quit claim deed in order to add your brother's name to the property deed.
Thanks
Is the property free and clear? If the property is free and clear then you would be able to use a grant deed to add your brother to the property deed. While you sell off the property, the sale proceeds will be divided amongst the three of you. If there is a mortgage on the property, then you will have to use a quit claim deed in order to add your brother's name to the property deed.
Thanks