Posted on: 22nd Jun, 2009 04:30 pm
my mother and father are in there 90's and own a home that is paid for. there are 10 of us in the family. we were going to have a quit claim deed done with a son and a daughters name on it but someone told us that we should put all of the children on it. we trust the two that we were going to put on it, is there any reason why we should put everyone on it? they live in michigan.
Hi Infcct,
Any sibling whose name is on not on the deed will have NO interest in the home. Whether you trust the 2 siblings or not, what if they die and then their interest in the home is left to their spouse or children? The only way to properly share the interest according to your parents' wishes is to deed to all the children with equal percentages listed out in the deed.
Any sibling whose name is on not on the deed will have NO interest in the home. Whether you trust the 2 siblings or not, what if they die and then their interest in the home is left to their spouse or children? The only way to properly share the interest according to your parents' wishes is to deed to all the children with equal percentages listed out in the deed.
Thank you for the info. If all of the siblings are on the deed, would their spouses also have to sign the deed?