Posted on: 02nd Feb, 2013 09:51 am
my mother owned residence in Utah. My mother executed a Utah warranty deed transferring the real property to herself, me and my brother as joint tenants. Later her attorney had me and my brother each sign a separate warranty deed back to our mother for her life and then to me and my brother as tenants in common. It was our understanding from the attorney that this gave our mother a life estate in the property and on her death the property would go 1/2 to each of me and my brother as tenants in common. I now want to transfer my 1/2 remainder interest in the property to my living trust to leave it to my spouse if I should predecease my mother. Can this be done and how should the deed be worded. Also should I use a warranty deed or a quitclaim deed or does it matter.
Welcome leprechaun,
You should get in touch with a real estate attorney and discuss the matter with him. The attorney will let you know whether or not you can place your share in a living trust. If the property is free and clear, then a warranty deed can be used.
You should get in touch with a real estate attorney and discuss the matter with him. The attorney will let you know whether or not you can place your share in a living trust. If the property is free and clear, then a warranty deed can be used.
Hi leprechaun!
Welcome to forums!
As far as I know, you may not be able to place only your share of the property in the trust. You will have to place the whole property in the trust.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
As far as I know, you may not be able to place only your share of the property in the trust. You will have to place the whole property in the trust.
Feel free to ask if you've further queries.
Sussane
You have a "remainder" interest in your property which is 1/2 tenant in common after your mother passes and her life estate drops off the title. It can be transferred like any other property interest. When transferring to trusts, using a Quitclaim Deed is common.
