Posted on: 19th Jul, 2010 03:56 pm
hi: my dad and i have a home titled in both our names. my dad is 92, would i need to have him sign a quit claim deed to remove his name and protect my interests in case of (god forbid) his passing? this home is not in his will and we own it together, i pay all mortgage costs and up keep, i also deduct it from my taxes, both of our names are on the mortgage. would it be wise or necessary to take his name off, i have other siblings but who are not on the deed but may think they have rights to the home, or does the home pass directly to me with no problems. thank you for your time.
How do you own title? Do you have right of survivorship? Joint Tenents? Tenents in Common? Good thing to fix now to avoid probate issues as well as issues with you siblings. The state you live in matters as well. May be just as easy to draft a will to address this.