Posted on: 05th Feb, 2008 06:43 pm
I am divorced and have a mortage in my name only, I have domestic partner. If I should predecease him I want him to be able to live in the house. If he dies before me I want it to go to my daughter. Is a quit claim what I need.
you can quitclaim him on the home title this way he will own it if you should pass, and if he is the first to go then you can quitclaim it to your daughter.
One point of warning however if you put him on the title home is half his automatically and you cant take him off after. And there is no guarantee that once he owns the home that he will pass it on to your daughter or if you should have a falling out that he will give it up.
So make sure you trust the person in question. If not for some reason then you can make a living will.
One point of warning however if you put him on the title home is half his automatically and you cant take him off after. And there is no guarantee that once he owns the home that he will pass it on to your daughter or if you should have a falling out that he will give it up.
So make sure you trust the person in question. If not for some reason then you can make a living will.
You should put that in a will.
Hi Rebecca,
Welcome to the forum.
I think you can use a quitclaim deed with life estate. This will enable you to retain the ownership of the property until your death. If you use a quitclaim deed with life estate, then your friend will gain the ownership after your death.
This is also known as ladybird deed. To get more information please have a look at http://www.mortgagefit.com/know-how/ladybirddeed.html
Hope it will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry
Welcome to the forum.
I think you can use a quitclaim deed with life estate. This will enable you to retain the ownership of the property until your death. If you use a quitclaim deed with life estate, then your friend will gain the ownership after your death.
This is also known as ladybird deed. To get more information please have a look at http://www.mortgagefit.com/know-how/ladybirddeed.html
Hope it will help you.
Feel free to ask if you have any further questions.
Best of luck,
Larry
