Posted on: 01st Apr, 2009 08:09 am
i am getting married and want to protect the equity in my home can i quit claim the home to my child...i have $30,000 in equity in my home. i am getting married and want to protect my interest in case of a divorce. can i quit claim my home to my children? and is it legal if i wait to file the claim at a later time? i would rather not file claim unless necessary. if the quit claim was signed before i married but filed at a later time is it still legal? i am also having surgery and i am considering a quit claim that would be filed in case of my death so my children would have the right to sell my home. my home will be willed to my children but i would like to have a quit claim deed that would be filed at the time of my death, is this legal?
Hi atoigue,
You cannot quitclaim your property to minor children. If they are 18 years or more of age, then you would be able to transfer the property through a quitclaim deed. It is always better to record the deed as soon as it is signed. You children would not be able to record the deed after your death. The deed will not be considered valid then.
Thanks
You cannot quitclaim your property to minor children. If they are 18 years or more of age, then you would be able to transfer the property through a quitclaim deed. It is always better to record the deed as soon as it is signed. You children would not be able to record the deed after your death. The deed will not be considered valid then.
Thanks
Hi
That is right. If your children are minor, you cannot quitclaim the property to them. However, you can establish a trust and make your children the beneficiaries of it so when you are deceased, they can inherit it without the property having to go through the process of probate. If you want to protect your interest in the property in case of a divorce, you can also go for a pre-nuptial agreement wherein the property would be stated as your sole and separate property.
That is right. If your children are minor, you cannot quitclaim the property to them. However, you can establish a trust and make your children the beneficiaries of it so when you are deceased, they can inherit it without the property having to go through the process of probate. If you want to protect your interest in the property in case of a divorce, you can also go for a pre-nuptial agreement wherein the property would be stated as your sole and separate property.
MY CHILDREN ARE ALL OF AGE BUT I DONT WANT TO LOOSE POSSESION OF MY HOME THROUGH A QUIT CLAIM THATS WHY I THOUGHT AS LONG AS IT WAS NOTARIZED IT COULD BE FILED AFTER MY DEATH. MY MOTHER IS 78 YEARS OLD AND LEGAL AIDE DID A QUIT CLAIM FOR HER AND TOLD HER THAT HER CHILDREN COULD FILE IT AFTER HER DEATH SO SHE COULD KEEP POSSESSION OF HER HOOME.
Welcome ATOIGUE,
As far as I know, a deed cannot be filed after the grantor's death. It will not be considered valid. If you want, you can include a life estate clause when you fill out the deed. This will give you the right to stay in the property until death.
As far as I know, a deed cannot be filed after the grantor's death. It will not be considered valid. If you want, you can include a life estate clause when you fill out the deed. This will give you the right to stay in the property until death.
IF I HAVE A LAST WILL AND TESTAMENT DONE WHILE I AM SINGLE IF I GET MARRIED WILL IT STILL BE VALID
Hi ROSE,
Yes, the will is still valid if you get married. However, after marriage, if you draft a new will, then the old one will not be considered as valid anymore.
Thanks
Yes, the will is still valid if you get married. However, after marriage, if you draft a new will, then the old one will not be considered as valid anymore.
Thanks
I live in Oklahoma. I own my own home and I am living with someone. We pay our bills together will this give the person Im living with rights to equity in my home.
Hi Marie!
Welcome to forums!
Do you want to add that person to the property deed? You can use a quitclaim deed to add that person to your property.
Sussane
Welcome to forums!
Do you want to add that person to the property deed? You can use a quitclaim deed to add that person to your property.
Sussane
NO I AM WANTING TO PROTECT MY HOME EQUITY IN CASE WE SPLIT UP
If the other person's name is not on the property deed, then that person won't be able to claim any rights to the property.