If I would like to leave my house to my daughter, what would be the best way to do this?

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If I would like to leave my house to my daughter, what would be the best way to do this?

Put her on deed now or will it to her? She is on disability and fixed income so I would like to know what would cost her the least amount of money.

Asked on January 31, 2015 under Estate Planning, New York

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 6 years ago | Contributor

You and your daughter can sign a quitclaim deed in the presence of a notary.  A quitclaim deed releases your entire right, interest, and title to the property to your daughter.  After the quitclaim deed is signed in the presence of a notary, it needs to be recorded (filed with the County Recorder's office) for it to become effective.

The cost of this is negligible. 

 

If instead your daughter inherits the property in your Will, there will be delays and costs due to probate.


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