Posted on: 05th Jun, 2008 01:28 am
Two brothers and their wives have their names on a property,mortgage is paid,one brother and wife would like thier names taken off of this property,
all are open to suggestion,and would like to accomplish this with the least
expense concerning sales or transfer taxes and capital gains,if any are due
,thankyou
all are open to suggestion,and would like to accomplish this with the least
expense concerning sales or transfer taxes and capital gains,if any are due
,thankyou
I am not an attorney, so I suggest you seek the counsil of one. Possibly a state planning attorney and inquire about a trust. From a lender's prespective, if the home is free and clear you simply need to have the people wanting to remove their name from title sign a quit-claim deed. You should be able to go down to the county recorder's office and get it done.
Best o' Luck
Best o' Luck