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Quit Claim Deed Among Family
- Thread Starter Cleopatra
- Start date
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army judge
Super Moderator
Yes, you could do as you describe.
But, after the money has been disbursed and spent, they might not be happy.
Then what?
Make sure you get everything in writing, and it is witnessed, notarized, and filed according to your state's laws of conveyance.
Property can be very tricky.
fredrikklaw
Moderator
No!
Cleopatra…
No! A quit claim Deed does not apply to this situation as it is MAIN use is the hassle-free inter-familial transfer of property rights (ONLY) where no money changes hands. Also, Quitclaim action creates NEW property rights where none had existed before. Here, you and your sisters are already, and have been since the creation of the interest Joint Tenants of this property with sights asunder. So, in a nut shell, you are one three people who became a joint tenant of your mother's house the second she signed the instrument that attested to this conveyance of the interest; usually a will.
As joint tenants, you each own as owners an undivided interest in the property. This type of ownership creates a right of survivor-ship, which means that if you died, your interest in the property are transferred to your two sisters. Also, as a joint tenant, you, or any other joint tenants have unfettered rights to do with your portion of the cake as you please, up to and including force-selling of the property via an action in Partition where other joint tenants disagree with the sale of the property and play hold-up games.
So this means that you can each sell, convey, will, donate, mortgage, or rent your percentile interest in the property to anyone you like with or without agreement of the other joint tenants. But I get the impression from your post that you and your sisters belong to that MOST EXCLUSIVE and wonderful old club whose sole admission requirement was sibling unity plus familial unity mixed with sense and sensibilities and NOT that other club whose members were once good folks who later turned into familial monsters at the sight of their names in a will.
Therefore, you and your sister should conduct the whole thing as a normal, garden variety real estate sale which starts with offer, contract, title search, mortgage and whatnots, climaxing in I believe what is called the Closing of Escrow.
Last but not least, I have to agree strongly with and reiterate to you what Army Judge eluded to above, which is to make sure that all Ts are crossed and the Is are dotted in order to avoid any future problems that may come in the shape of an individual who calls herself Lucy from "a little town in Wyoming" who rushed here when she heard your mother passed away; to offer her condolences and provide help and support in this time of grief for a Love-Lost; Oh, and before she forgets; can she collect her 30% share of the house which your mother had promised her at such and such a time in the past?
fredrikklaw
Cleopatra…
No! A quit claim Deed does not apply to this situation as it is MAIN use is the hassle-free inter-familial transfer of property rights (ONLY) where no money changes hands. Also, Quitclaim action creates NEW property rights where none had existed before. Here, you and your sisters are already, and have been since the creation of the interest Joint Tenants of this property with sights asunder. So, in a nut shell, you are one three people who became a joint tenant of your mother's house the second she signed the instrument that attested to this conveyance of the interest; usually a will.
As joint tenants, you each own as owners an undivided interest in the property. This type of ownership creates a right of survivor-ship, which means that if you died, your interest in the property are transferred to your two sisters. Also, as a joint tenant, you, or any other joint tenants have unfettered rights to do with your portion of the cake as you please, up to and including force-selling of the property via an action in Partition where other joint tenants disagree with the sale of the property and play hold-up games.
So this means that you can each sell, convey, will, donate, mortgage, or rent your percentile interest in the property to anyone you like with or without agreement of the other joint tenants. But I get the impression from your post that you and your sisters belong to that MOST EXCLUSIVE and wonderful old club whose sole admission requirement was sibling unity plus familial unity mixed with sense and sensibilities and NOT that other club whose members were once good folks who later turned into familial monsters at the sight of their names in a will.
Therefore, you and your sister should conduct the whole thing as a normal, garden variety real estate sale which starts with offer, contract, title search, mortgage and whatnots, climaxing in I believe what is called the Closing of Escrow.
Last but not least, I have to agree strongly with and reiterate to you what Army Judge eluded to above, which is to make sure that all Ts are crossed and the Is are dotted in order to avoid any future problems that may come in the shape of an individual who calls herself Lucy from "a little town in Wyoming" who rushed here when she heard your mother passed away; to offer her condolences and provide help and support in this time of grief for a Love-Lost; Oh, and before she forgets; can she collect her 30% share of the house which your mother had promised her at such and such a time in the past?
fredrikklaw
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