Posted on: 19th Jan, 2010 09:40 pm
I have helped and supported a close friend for years in keeping is mortgage current and home out of foclosure. Subsequently, he has left me the house in his will. Is there a way of transferring ownership now as he is elderly and no longer want or can handle the cost or responcibillity. I would also like for him to legally stay in the home for the remainer of his life.
Though your friend has left the property in his will, he is still alive. You can ask him to file a quit claim deed in your favor and include a life estate clause for himself. This will help him in staying in the property until death and then you would become the sole owner of the property.