Posted on: 28th Dec, 2010 05:57 am
I placed the down payment and have been paying the monthly housenote on a property hat had to be placed in my mother and stepfathers name due to lawsuits against me. What type of deed or papers should be filed to ensure it is explained that I am the owner of said property upon their death. I dont want my stepfathers kids to obtain ownership or have any rights to said property. Please advise. I am a Texas resident.
Hi Guest,
Your stepfather and your mother can draft a will and declare you the beneficiary of the will. After their death, you can probate the will and get the property transferred in your name. Your parents can even sign a quitclaim deed now and transfer the property to you. This will make you the sole owner of the property. But after they transfer the property to you, you'll have to refinance the mortgage.
Thanks
Your stepfather and your mother can draft a will and declare you the beneficiary of the will. After their death, you can probate the will and get the property transferred in your name. Your parents can even sign a quitclaim deed now and transfer the property to you. This will make you the sole owner of the property. But after they transfer the property to you, you'll have to refinance the mortgage.
Thanks