Posted on: 04th Jun, 2009 07:20 pm
I would like to be able to transfer my property to my children in case of my death, but not have to have them on the title at present time. A warranty deed? I still have a mortgage at the moment.
Hi levengirl!
Welcome to forums!
As you still have a mortgage due on the property, it would be better if you could add your children to the property with the help of a quitclaim deed. A warranty deed is used to transfer property only if the property is free and clear.
Feel free to ask if you have further queries.
Sussane
Welcome to forums!
As you still have a mortgage due on the property, it would be better if you could add your children to the property with the help of a quitclaim deed. A warranty deed is used to transfer property only if the property is free and clear.
Feel free to ask if you have further queries.
Sussane
quit claim deed is the only option. you can not go ahead with warrant deed
I would like to transfer our deed to house in case of death. We hold property as Tenants by the Entirety. Does my husbands interest go into his estate and mine goes into mine or can I do something about it before hand? In other words, I would like my child to have it all.
Hi abbie!
Welcome to forums!
If your child is an adult, then you can add his/her name to the property by using a quit claim deed. This will make your child one of the owners of the property and he would be able to claim it after your death.
Sussane
Welcome to forums!
If your child is an adult, then you can add his/her name to the property by using a quit claim deed. This will make your child one of the owners of the property and he would be able to claim it after your death.
Sussane