Posted on: 04th Mar, 2010 03:24 pm
my mother gave me a sealed envelope and told me to just put it with her will and stuff, not a big deal. in the envelope is a warranty and a quit deed both completed and noterized. she told me to come to this web site if i had any questions. she signed the deeds 3 days before she died unexpectely and gave me the envelope the day before she died. are they valid and which deed should i have recorded, also, i am the beneficiary in her will, should i let it go through probate to get the house instead of recording one of the deeds? there was no motgage on her florida home and i do not think she had any leins on the house. she paid proptery taxes on a value of $240,000 which is now valued at around 400,000. what will the property value be that i will be taxed on? also, she had no other assets and owed about 10,000 in credit card debt. if i decide to stay in her home and claim homestead, am i responsible for the credit card bills, which i cannot afford. any help would be sincerely appreciated.
Hi Eileen,
Rather than probating the property, you should first try to record the property deed given to you by your mother. You can speak to a real estate attorney who would help you know whether or not you would be able to record the deed after your mother's death.
Once the property is transferred in your name, it's value will be reassessed and depending upon that, you would be responsible for property tax payments. You won't be responsible for her credit card bills. Once the property is transferred in your name, the creditor will also not be able to come after the property.
Thanks
Rather than probating the property, you should first try to record the property deed given to you by your mother. You can speak to a real estate attorney who would help you know whether or not you would be able to record the deed after your mother's death.
Once the property is transferred in your name, it's value will be reassessed and depending upon that, you would be responsible for property tax payments. You won't be responsible for her credit card bills. Once the property is transferred in your name, the creditor will also not be able to come after the property.
Thanks