Posted on: 14th Sep, 2007 07:22 pm
the father died and left the property to 3 children and a grandchild. records show, as grantors, 2 of the children (adults) and grandchild did a quit claim deed to the 3rd child. then there is a transaction where the 3rd child must have signed over in a trustee's deed to the bank. no one is allowed to live in the house at this point, but 3rd child just paid all taxes on the house and remodeled it before the quit claim deed occurred. has the 3rd child lost the property? 3rd child is the only one interested in keeping the property, the others involved want the money.
Hi Cassieblum,
If the 3rd child has quitclaimed the property by retaining a life estate on it, then he has the right to possess the property. He can stay on that property till his death. Otherwise, he will have no right to that property once it is transferred.
If the 3rd child has quitclaimed the property by retaining a life estate on it, then he has the right to possess the property. He can stay on that property till his death. Otherwise, he will have no right to that property once it is transferred.