Posted on: 30th Aug, 2007 12:50 pm
my parents both passed away intestate, their estate consisted of a house. i didn't want the house so i signed over my rights to house to my brother. five years later brother is ill and going into nursing home. even though he probated my parents estate he never got around to changing the deed.
he has no children and no wife. now i would like to take over the property with my brothers consent. cannot own property going into a nursing home.
there is no mortgage on the house.
can my brother sell me the house for a $1 and i quit claim the deed?
he has no children and no wife. now i would like to take over the property with my brothers consent. cannot own property going into a nursing home.
there is no mortgage on the house.
can my brother sell me the house for a $1 and i quit claim the deed?
"can my brother sell me the house for a $1 and i quit claim the deed?"
Yes that is quite possible.
He can use a quit claim deed to transfer property rights over in your name.
On the deed he will be named as the grantor and you as the grantee. After the deed is notarized get is recorded with the county recorder's office to complete the transfer process.
Miller
Yes that is quite possible.
He can use a quit claim deed to transfer property rights over in your name.
On the deed he will be named as the grantor and you as the grantee. After the deed is notarized get is recorded with the county recorder's office to complete the transfer process.
Miller
If you want to know how a quit claim deed is used in transfer of property title then please go through this following page which explains this process: http://www.mortgagefit.com/quitclaim-deed.html
Hi Lchamber,
When the house is paid off, your brother can easily transfer the house to you by using a quitclaim deed. For that he will not have to sell the house to you.
But he may have to pay the required gift tax for transferring the house by using the quitclaim deed if he does not qualify for the annual gift tax exemption.
When the house is paid off, your brother can easily transfer the house to you by using a quitclaim deed. For that he will not have to sell the house to you.
But he may have to pay the required gift tax for transferring the house by using the quitclaim deed if he does not qualify for the annual gift tax exemption.