My father is disabled and I have guardianship of his property, can I transfer ownership over to myself?

Question Details:

My dad is disabled he has no Will. He does own a home but there is no mortgage owed on it. I have guardianship over his property. Can the deed be transfered to my name? I intend to live in the home.

Asked 1/8/2010 under Real Estate | 268 View(s) | More Legal Topics

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Real Estate Law Answers

Cedulie Laumann / Arden Law Firm Answered 2 years ago | Contributor with 0 answers This attorney is licensed in Maryland

If you have legal guardianship you are required to use your father's assets only for your father.  So, no you could not deed the property to yourself as a gift. Doing so would almost certainly be seen as a breach of your fiduciary obligations. 

If you are looking for ways to generate income to support your dad you could might consider selling the property at full market value or if he can stay in the home possibly doing a reverse mortgage.  I'd encourage you to make sure you have court approval before liquidating assets however. If an attorney handled your guardianship I suggest talking to that attorney about permissible uses of the property entrusted to you.  If you had no attorney you might want to consult one now.

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