Results 1 to 2 of 2

Thread: Joint ownership Deed, Quit Claim, Deed for life

  1. #1
    Junior Member
    Join Date
    Sep 2008
    Location
    Detroit area
    Posts
    2

    Default Joint ownership Deed, Quit Claim, Deed for life

    Hi all,
    My parents are currently living with me at my house in the state of Michigan. My other child is on the way, and we need bigger space. Iím attempting to purchase a second house and either I or my parents going to occupy the second home. In order to avoid the Non-homestead taxation, I have to put one of my parents name on the deed.

    1- My question is what the best and easy way to record the deed in my & parent names?

    2- What form or phrase I have to use to make sure in the event of my parentís decease the deed will be titled directly to me, in consideration of me having siblings?

    3- Also in the event of my decease before my parent, the deed will be titled to my wife and kids as dependents.

    I appreciate any advice in this matter.

  2. #2
    Moderator
    Join Date
    Jan 2006
    Location
    MD
    Posts
    15,020

    Default

    This is beyond the scope of a message board. There are a number of ways in which you can grant ownership of a home and provide for transfer of that property after the death of the owner. you do need to consult an attorney well versed in real estate and estate planning to guide you as to the best way to accomplish what you desire.
    I post with the full knowledge and support of my employer, though the opinions rendered are my own and not necessarily representative of their position. In other words, I'm a free agent.

Similar Threads

  1. Warranty deed/quit claim deed terminology? Georgia
    By Angeldove in forum General Real Estate Law Questions
    Replies: 0
    Last Post: 10-15-2009, 03:28 AM
  2. Debt and Revocable Quit claim deed (Reserving life estate)
    By Eddington in forum General Real Estate Law Questions
    Replies: 2
    Last Post: 08-15-2008, 09:52 AM
  3. Need to know if Quit Claim Deed is what I need Arizona
    By AccountantInAZ in forum General Real Estate Law Questions
    Replies: 7
    Last Post: 08-06-2008, 02:37 PM
  4. Quit claim deed Oklahoma
    By ccwinnies in forum Oklahoma Real Estate Law
    Replies: 0
    Last Post: 04-21-2008, 07:31 AM
  5. quit claim deed and CH 7
    By mike in forum Mortgage and Foreclosure
    Replies: 2
    Last Post: 12-15-2003, 07:16 PM

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •