Consumption and Real Estate
In Florida a Quit claim or Warranty deed not sure which I need?
Question : In Florida a Quit claim or Warranty deed not sure which I need?
The specifics are this.
My husband and mother have a mortgage on the house together. (We all live here as this is the only residence we have).
In the event of her death we want to be assured that the house will be legally ours and my siblings cannot force us to sell or to get what they may believe is their portion.
My mother is in agreement that the house should revert completely to us. As we have been making the mortage payments and upkeeping the home now for the past 6 years.
So if you can help please let me know. Mom is getting on in years and we need to get this taken care of.
Thanks!
florida home warranty
Best answer:
Answer by Braza V
I’m pretty sure you need both.
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#2 written by Darin Alvarez 1 year ago
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#3 written by retopgun 1 year ago
You definitely do NOT need both. You can easily make use of a Quit Claim Deed.
The best approach would be to put the property into a Land Trust. You will establish the trust, name a trustee (probably an attorney), and then list the beneficial interest as both husband and mother-in-law.
Let me give you a great reference on all of this–and it is specific to Florida Real Estate Law. The book is “Land Trusts in Florida” and the author’s name is Mark Warda.
Certainly the advice to consult with an attorney is good–just make sure you have an attorney that understands land trusts (most don’t). Two that do are William Bronchick and J.J. Childers. Put either name into a search engine and you’ll find their information as well.
Advice is usually worth what you paid for it, and this advice is free
but–it does come from someone with over 13 years experience in real estate ownership and investing.Good luck to you!
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#4 written by hollywoodmelody 1 year ago
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As a former estate planning paralegal, and the home is in your mother’s name alone, the best solution is for you to consult an attorney to discuss estate planning – it would stave off the contest that you will inevitably face once your mom passes – And needless to say, you also need to also have a contingency plan in the event something happens between you and your husband. For the small fee the attorney would charge you, it will save a lot of heartache and problems down the road – when it is done through an attorney, there are rarely problems since it is all in the open and there is no duress involved – which is usually the type of case that was brought to us – the other children tried to prove that you forced your mom to sign over the house by threatening to not take care of her, whatever – if you don’t like that answer, in answer to your question, your mom could quit claim from herself to the three of you as joint tenants. It would give you all an equal share of ownership and when one of the parties dies, it reverts to the remaining parties. I really recommend going through an attorney though.