Posted on: 03rd Dec, 2010 06:57 am
i'm currently re-financing my home. the title and the mortgage are both under my name only and i have the tax benefit. my partner, who has made financial contributions towards the upkeep and who has also made significant physical contributions to the property, has no legal claim to the property, except i have left it to her in my will. if i die, i want her to have the home and to protect her from the bank forcing her to buy the property from my estate. she is willing to make the mortgage payments. i am not wealthy enough, apparently, to leave the house to her in a revocable trust, so what are my options? a quit claim deed has been suggested but i don't think that's the right way to go. i want to keep my tax benefit while i'm alive. any suggestions? thanks.
Hi gregor,
You have drafted a will and declared your partner to be the beneficiary of the will. In such a situation, she will have to probate the will after your death and get the property transferred in her name. You won't have to do anything else in order to secure her rights. However, once the property is transferred in your partner's name, she will have to refinance the mortgage in her name.
Thanks
You have drafted a will and declared your partner to be the beneficiary of the will. In such a situation, she will have to probate the will after your death and get the property transferred in her name. You won't have to do anything else in order to secure her rights. However, once the property is transferred in your partner's name, she will have to refinance the mortgage in her name.
Thanks