Posted on: 01st Apr, 2010 11:16 am
Can it be used to transfer to more that one person? (Childern)
My Father is now in Assisted living.
If we sell the house now, all the profit will go to the insurance companies. VA for example.
Can we quick claim it and keep it for the 3 years that they go back, then sell it?
My Father is now in Assisted living.
If we sell the house now, all the profit will go to the insurance companies. VA for example.
Can we quick claim it and keep it for the 3 years that they go back, then sell it?
Hi Keith,
Your father can use a quit claim deed in order to transfer the property to you and your siblings. His name will be listed as the grantor of the property whereas you and your siblings will be listed as grantees. As far as the profit going to the insurance company is concerned, you'll have to contact an attorney and take his opinion in this regard. He will let you know whether or not the transfer of the property will be considered as fraudulent by the insurance company.
Thanks
Your father can use a quit claim deed in order to transfer the property to you and your siblings. His name will be listed as the grantor of the property whereas you and your siblings will be listed as grantees. As far as the profit going to the insurance company is concerned, you'll have to contact an attorney and take his opinion in this regard. He will let you know whether or not the transfer of the property will be considered as fraudulent by the insurance company.
Thanks