What to do if I’m living in a home under the terms of my sister’s trust and my niece and I are considering a quit clain to qualify for school tax exemptions?

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What to do if I’m living in a home under the terms of my sister’s trust and my niece and I are considering a quit clain to qualify for school tax exemptions?

How can I include the terms that the property reverts to my niece upon my death or departure. Can this be included in the quit claim?

Asked on February 19, 2013 under Estate Planning, Michigan

Answers:

Catherine Blackburn / Blackburn Law Firm

Answered 8 years ago | Contributor

My advice to the two of you is - don't do this without a lawyer.  In my experience, people cause lots of problems by using quit claim deeds without a lawyer.  This sounds like you could create some seriously adverse, although unintended, consequences if you just quit claim your interest (like your niece would then own the property outright and force you to leave - now or in the future).  Please see a lawyer about this.  It should not cost a bunch of money and will be well worth the cost.


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