Posted on: 01st Mar, 2009 02:41 pm
my wife and i are separated and both names are on the deed,
i want to give her the house but still have my name on it for now, i thought of quit claim deed to her as in life estate or lady bird, not just regular quit claim, can i do that and what are the implications??
i want to give her the house but still have my name on it for now, i thought of quit claim deed to her as in life estate or lady bird, not just regular quit claim, can i do that and what are the implications??
Hi joenaber,
To give her the title to the house, you can sign either a quitclaim or a lady bird deed as both of them will help you transfer your share in the property to her. However, if you sign a quit claim deed, you lose all your interest in the property. On the contrary, if you sign a lady bird deed, you retain a life estate for you which allows you to stay in the house for the whole of your lifetime.
To give her the title to the house, you can sign either a quitclaim or a lady bird deed as both of them will help you transfer your share in the property to her. However, if you sign a quit claim deed, you lose all your interest in the property. On the contrary, if you sign a lady bird deed, you retain a life estate for you which allows you to stay in the house for the whole of your lifetime.