Transferring deed on a house?

[20W-50 and blood]

Need some help. The parents are not in the greatest health (thankfully havent had the corona), but insisting that the deed to their place gets transferred to us (4 kids). I've got no clue how/where to start, what I should be aware of, etc. Any breakdown is appreciated.

 

[Wheelhouse]

quitclaim deed. a title/escrow company can help you

 

[craigj532]

Call a trusts and estates lawyer

 

[obslop]

Need some help. The parents are not in the greatest health (thankfully havent had the corona), but insisting that the deed to their place gets transferred to us (4 kids). I've got no clue how/where to start, what I should be aware of, etc. Any breakdown is appreciated.

check the website for the county recorder where the property is located. should be forms.

should probably also consult an estate planning attorney. i can refer you one if you want.

i don't know much about property law or estate planning so i cannot help you out.

GL and hope you're staying safe.

 

[20W-50 and blood]

Cheers to those recommends, as well as any others.

Shoot me that #

 

[Driftcoast]

Estate/trust lawyer was good recommendation.

But educate yourself to other do it yourself routes

 

[studog]

Call a trusts and estates lawyer

this. had mine done by a lawyer as part of the trust he drafted for me

Need some help. The parents are not in the greatest health (thankfully havent had the corona), but insisting that the deed to their place gets transferred to us (4 kids). I've got no clue how/where to start, what I should be aware of, etc. Any breakdown is appreciated.

have them do a trust and place the house in it along with their bank accounts, investment accounts, etc. cost maybe $900 but will save the family LOTS in taxes when the trust is liquidated.

 

[littlewave]

100 consult an estate planning attorney.

 

[potato-nator]

Estate/trust lawyer was good recommendation.

But educate yourself to other do it yourself routes

Staples might have a $5 contract for that.

 

[npsp]

Consult a trust / estate planning attorney ASAP. If any of you or your parents own any property put it in a trust now. You are doing your family a big disservice by not having your real estate assets in a trust. Leaving your family to deal with probate hell is no way to be remembered...

 

[LiamUnknown]

you need a trust ASAP. transferring the property to kids names will not keep you out of probate which will drain any money/property they may have in their estate. A trust can easily and cheaply (a few grand) prevent a sh!t ton of future suffering down the line. Worst case, have all 4 kids split the cost of the trust if your parents don't want to pay for it.

A will does not fix this problem. They need a TRUST.

 

[JBerry]

TRUST me, you do not want anything in probate. When my dad passed unexpectedly about 9 years ago he wasn't prepared. His probate lasted 2 years! My lawyer said he's never had one go that long and be so difficult. Now, my mom has all in a trust.

Also, I did a quit claim on our first starter house with my wife. I just printed out the info online, took to a notary, took to County recorder, and done. No problems at all. However with 4 siblings? you should TRUST it and go from there.
Good luck!

 

[Ranga]

This is easy. Quitclaim or deed of gift. Few hundred dollars, any real estate attorney can do it.

 

[littlewave]

This is easy. Quitclaim or deed of gift. Few hundred dollars, any real estate attorney can do it.

DO NOT listen to this, fucking horrible idea. Horrible.

 

[TheEl]

DO NOT listen to this, fucking horrible idea. Horrible.

por que no?

Ive got to do this soon as well and was planning on going the quitclaim route.

 

[studog]

por que no?

Ive got to do this soon as well and was planning on going the quitclaim route.

tax

 

[LiamUnknown]

por que no?

Ive got to do this soon as well and was planning on going the quitclaim route.

Also, with four siblings he's going to want to set up a trust anyway and any disposition of the property can be handled through that under the same flat fee. No reason to spend 500 dollars having an attorney prepare a quitclaim deed when he can spend 2000 or less to get a trust set up which will shield the estate from taxes and protect the estate from probate.

 

[Brsnstein]

tax

Depending on where the property is, it could trigger a reassessment of the property taxes at the property's current value. There could be several other implications.

As others mentioned above, talk to an attorney.

 

[TheEl]

Also, with four siblings he's going to want to set up a trust anyway and any disposition of the property can be handled through that under the same flat fee. No reason to spend 500 dollars having an attorney prepare a quitclaim deed when he can spend 2000 or less to get a trust set up which will shield the estate from taxes and protect the estate from probate.

You guys are much better adults than I am.

 

[Sharkbiscuit]

My Dad has a last will. He put the wrong unit number in the will. Like, literally lives in #3, literally has #2 in the will.

The "estate" is way, way, way under where the estate tax kicks in.

What you are saying is, with a (shitty at that apparently) will, I will have no legal right to the property until it goes through the courts, and I'll have to come up with HOA fees etc. all the while? Can I at least use the key I use today to unlock the door and use the place, or no?