quick deed on home
Question Details: I live in ohio .My mother is going to quick deed the house to me that I'm living in.She wants to put my sister as a life ,something not on deed but so that when I die the house goes to my sister.So it does not have to go to probate.Does she have to sign for loans and what if I want to sell the house do I need her permission.thank you
Real Estate Law Answers
Dear Inquirer: The facts you presented do not permit an intelligent, ciomplete response. But, if your Mother's house is fully paid and has no mortgage, she need only prepare, sign and you can then record a Quitclaim Deed.
You, as the new owner may then apply for and obtain a mortgage loan in yourown name. In order to satisfy your Mother's wishes, you may prepare and sign a TOD Deed - Transfer on Death Deed, naming yourself as Grantor and your self and siuster or others, as Grantees. Upon your death, your Sister may take a copy of the Death Certificate together with the properly executed TOD Deed for recording and transfer, avoiding Probate!
But, you are well advised to retain the advice and guidance of an Attorney to assist you in accomplishing this complex procedure, because if you do not perform it correctly, you will have nothing but a legal snarl on your hands, that'll take a Houdini-like, Philadelphia Lawyer to untangle!
Good luck!
Sincerely, J. Norman Stark, Attorney, Cleveland, OH.
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