What to do if my aunt wants to sign her house into my name because her health is not good?

She does not want to let her home go to anyone else but me. What should we do?

Asked on October 20, 2011 under Real Estate Law, North Carolina

Answers:

FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney

Answered 9 years ago | Contributor

If your aunt wants to transfer legal title to her home into your name you need to have her consult with an attorney experienced in real estate matters and title transfer so as to prevent any appearance of impropriety on your part. You should not consult with the attorney at all. Rather your aunt should meet with the attorney all by herself.

The attorney consulted could have ideas as to placing the property in trust where you could end up owning it upon her passing so as to receive a benefit in the property's stepped up basis upon her passing or there could be yearly fractionalized interests in the property to you where she retains a life estate in it.

Good luck.

 


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