Common Questions about Deeds

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Common Questions about Deeds

Common Questions about Deeds

My elderly aunt has medical bills in collection now and wants to quit claim her condo to me. Can the hospital come after me to satisfy the debt?

There is a high potential of the transfer being considered fraudulent and being reversed if the creditors sue. The transaction could also potentially result in a significant period of ineligibility for Medicaid and perhaps other benefit programs. It is best to see an attorney before forging ahead with this transaction.

Why Is The Law For Property Deeds So Contradictory? It is so easy for a property owner to put another person’s name on a deed without that person’s knowledge but, to get that person’s name off the deed, they need to voluntarily sign a quit claim deed?

The answer is quite simple. If you give something to someone (an interest in property, a car, a dog, money, etc.), you can’t just waltz in and take it back because you have changed your mind later.

If you intend to give someone something for a limited time you should structure it as a loan or lease.

My parents recently passed away and, in their will, they left a condo in Florida to me. I would like to know how to change a deed in Florida.

The estate must be probated in Florida to transfer the interest in real property. If the condo was their primary residence and the rest of the estate is worth less than $75,000, there may be a more efficient process known as Summary Administration.

What is a remainderman’s responsibility to the life estate home that I live in If I can’t afford to pay the taxes?

Florida law typically requires the life estate holder to pay the taxes and insurance on the property for their lifetime. If you cannot pay the taxes, you may wish to rent out the property to cover taxes and keep anything over the cost to cover the rent or mortgage on a smaller house.

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