Posted on: 21st Jan, 2009 11:13 am
can heirs to real property quit claim deed to just one of the heirs...my parents willed their home to all of their children and the property deed is now in the name of the 7 siblings.
there is no mortgage or other claims against the property.
the home is located in nebraska and currently valued by the county assessor at $8,000, but it is doubful that the true value would exceed $1,000.
we desire to transfer the property to just one brother, without any consideration.
if we each do a quit claim deed to the one brother,
would this relieve us (the grantors) from the responsibility for taxes and liability for any accidents that might happen on the property?
would the grantee gain title to the property such that he might be able to sell it some time in the future without further action by the grantors?
thanks in advance
there is no mortgage or other claims against the property.
the home is located in nebraska and currently valued by the county assessor at $8,000, but it is doubful that the true value would exceed $1,000.
we desire to transfer the property to just one brother, without any consideration.
if we each do a quit claim deed to the one brother,
would this relieve us (the grantors) from the responsibility for taxes and liability for any accidents that might happen on the property?
would the grantee gain title to the property such that he might be able to sell it some time in the future without further action by the grantors?
thanks in advance
Hi jim_almquist,
All the siblings can use one single quitclaim deed to transfer the property to that particular sibling. The one to whom you are transferring the property will be the grantee and the others will be the grantors.
Once the property is transferred to that sibling, he/she will be responsible for the taxes and other liabilities. Yes, once the property is quitclaimed to the sibling, he will be able to sell it off without the involvement of the grantors.
All the siblings can use one single quitclaim deed to transfer the property to that particular sibling. The one to whom you are transferring the property will be the grantee and the others will be the grantors.
Once the property is transferred to that sibling, he/she will be responsible for the taxes and other liabilities. Yes, once the property is quitclaimed to the sibling, he will be able to sell it off without the involvement of the grantors.