Learn about property estate planning including repair and maintenance duties. Is using a quit claim deed or an irrevocable trust a better option? Inheriting property saves more on taxes than signing a quit claim deed.
If you had the choice, would you buy a house with no mortgage? Would you pay all cash for a home? What would it take for you to lower your house payments to a level that you could retire and no longer carry a mortgage?
A father transferred his home to his children using a quit claim deed, but he stopped paying the taxes. Now his children have been notified they're behind on real estate taxes and could lose the property. One child wants to sign a quit claim deed to transfer ownership back to the father. If they do sign the quit claim deed, will this shift responsibility for the real estate taxes?
A woman married to a widower wants to put her name on the title of her husband's home and delete his late wife's name. She can add her name to the title using a quit claim deed. But, because the home is pre-marital property, the husband may not want to add his wife to the title so the property can be passed down to his heirs.
Is it safe to quit claim deed a house in order to save the home? The mom has breast cancer and faces high medical bills and worries about losing her home to creditors. Signing a quit claim deed will not protect the home from creditors. An estate planner can discuss the family's options.
Is a quit claim deed valid when the signatory is deceased prior to the quit claim deed's execution? Can the notary who approved the signature on the quit claim deed be held accountable? Notaries' role in the quit claim deed process is crucial and it depends on state law.
