Posted on: 18th May, 2010 12:24 pm
My father is real sick and does not have long to live he has quit claimed his portion of the property we own. We are both on the title and my dad is on the mortgage what is the best way to make sure I am sole owner with out my other sibling trying to claim the property
Hi misskatjana,
You can ask your father to transfer his share of the property to you by signing a quit claim deed. This will make you the sole owner of the property. Once you become the sole owner, your siblings won't be able to claim the property. After you become the owner of the property, you will have to refinance the loan in your name.
Feel free to ask if you've further queries.
Sussane
You can ask your father to transfer his share of the property to you by signing a quit claim deed. This will make you the sole owner of the property. Once you become the sole owner, your siblings won't be able to claim the property. After you become the owner of the property, you will have to refinance the loan in your name.
Feel free to ask if you've further queries.
Sussane
Is there a will??
If the will leaves the property to you, it does not matter who is on the deed.
If the will leaves evryhting to all the siblings, it does not matter if he quitclaims now. The siblings could sue claiming they were in the wiil and quitcliming was simply fraudulent and against the wishes of the will.
If you are both on the deed now, how are you titled? If you are titled having rights of survivorship you own the property i the evnt anyhting happens.
If you are tenats in common and do not have rights of survivoship, I guess a quitclaim deed would help, if no will.
States all have different laws. NO one can answer your question properly unless you note the state in which the property is located.
Even then you are reliant upon the fact that some mortgage person---this is a mortgage web site--can answer you properly about wills and quitclaims and survivorship etc. Those are legal and inheritance questions.
Most of us are mortgage qualifed experts, not legal inheritance experts.
If your Dad is on the mortgage and quitclaims his name off the tilte, he will have triggerd the due on sale clause and if the lender finds out, the loan is due in full immediately.
If you can refinance now into your name--basically buying the house from Dad, do it now. Then you own the house.
If the will leaves the property to you, it does not matter who is on the deed.
If the will leaves evryhting to all the siblings, it does not matter if he quitclaims now. The siblings could sue claiming they were in the wiil and quitcliming was simply fraudulent and against the wishes of the will.
If you are both on the deed now, how are you titled? If you are titled having rights of survivorship you own the property i the evnt anyhting happens.
If you are tenats in common and do not have rights of survivoship, I guess a quitclaim deed would help, if no will.
States all have different laws. NO one can answer your question properly unless you note the state in which the property is located.
Even then you are reliant upon the fact that some mortgage person---this is a mortgage web site--can answer you properly about wills and quitclaims and survivorship etc. Those are legal and inheritance questions.
Most of us are mortgage qualifed experts, not legal inheritance experts.
If your Dad is on the mortgage and quitclaims his name off the tilte, he will have triggerd the due on sale clause and if the lender finds out, the loan is due in full immediately.
If you can refinance now into your name--basically buying the house from Dad, do it now. Then you own the house.
