Posted on: 15th Oct, 2007 02:52 pm
Hi,
My mother owns a small piece of property in NM that has always been promised to me. Unfortunatley she is now quite elderly, has become incapacitated mentally and my sister carries her Durable Power of Attorney. My sister has suggested that we should have Mom, via my sister, quitclaim the property to me while Mom is stiill alive. Is that possible? If my mother leaves credit card debt will that effect the quitclaim? We are talking a piece of undeveloped property worth about 4k.
Thank you,
B
My mother owns a small piece of property in NM that has always been promised to me. Unfortunatley she is now quite elderly, has become incapacitated mentally and my sister carries her Durable Power of Attorney. My sister has suggested that we should have Mom, via my sister, quitclaim the property to me while Mom is stiill alive. Is that possible? If my mother leaves credit card debt will that effect the quitclaim? We are talking a piece of undeveloped property worth about 4k.
Thank you,
B
Hi,
If your sister has got the durable power of attorney, then she will make the necessary legal transactions on behalf of your incapacitated mother. She can quit claim the property to you while your mother is still alive.
The quit claim just transfers the ownership and not any financial responsibility.
If your sister has got the durable power of attorney, then she will make the necessary legal transactions on behalf of your incapacitated mother. She can quit claim the property to you while your mother is still alive.
The quit claim just transfers the ownership and not any financial responsibility.
Hello Balee,
Your sister has all the legal authority to act on behalf of your mother with the power of attorney. With your mother's consent you can always do that.
The credit card debt will not affect the quit claim in any way.
Your sister has all the legal authority to act on behalf of your mother with the power of attorney. With your mother's consent you can always do that.
The credit card debt will not affect the quit claim in any way.
Hi Balee,
Yes, the quitclaim is possible and this is a good suggestion for you, on your sister's behalf, to quitclaim the property to your name when your mother is still alive. As your sister has the power of attorney, she has to do all the legal works. And I don't think that your mother's credit card debt will affect the quitclaim in anyway.
With best wishes,
Larry
Yes, the quitclaim is possible and this is a good suggestion for you, on your sister's behalf, to quitclaim the property to your name when your mother is still alive. As your sister has the power of attorney, she has to do all the legal works. And I don't think that your mother's credit card debt will affect the quitclaim in anyway.
With best wishes,
Larry
first, your mother's credit card will not affect the quitclaim between you and your motherin anyway, even though, her has a credit card debt. and your sister's suggestion is very well, the quitclain for you is best when your mother is still alive.