I work with a National Title Company, if you need a estimate let me know the state and I can tell you how much the title will cost. It varies state to state depending on there regulations.
Do you work with a title company? Title companies will have this form and if you have done some deals with a title company before they should be willing to give you a blank quit claim deed. You might need a special quit claim deed for deeding into a trust so look into it.
my company website has all NY forms you can print any of them and fill them in online We have for NY, NJ and PA. (Greystreet title). Click on forms and then choose the state and everything you need will be there.
As you already know and has already been stated, an attorney is the only one that can really answer this.
Even when it comes to things like title, it could have changed when the first person passed away. For example, a Joint Tenancy could have become a Tenancy-In-Common if the deceased person’s interest passed to their spouse, and the resulting interests owned was unequal among all the parties.
But you’re right, it still a sad situation when it comes to inheritance issues and how that can split up families. I know…I’ve been through it more than once.
Do they want the money from the property or the property? You may agree to give them your shares of other property and money to have 100% title of this vacation home, in sense "buying them out". Does the Will of Jim and Jane state what happens to their share? Who will get their share if it was not in their Will? This may get even uglier than whats on the surface.
Definitely keep us posted as I would like to know the result of this. And sorry for all the inconviences this caused. I dont know why families get torn apart because of money. Its sad [ Edited by estateXchange on Date 05/09/2007 ]
Glad to see things are working out in your favor. Unfortunately, the other siblings might not stop here and they may try to find a loophole. This is one of the reasons it is important to have a good RE Attorney on your Team. Have your attorney keep on this and hopefully the siblings attorney will realize he does not have a case and does not waste his time and yours. Go ahead and have Sharon deed the property to your wife using a title company so it is all legit. Also, you may want to look into a Land Trust versus a Living Trust.
BTW, do we get a free week vacation at the house for our help? [ Edited by estateXchange on Date 05/10/2007 ]
I dont know too much about living trusts but have heard that land trusts are better for real estate. It would treat the real estate as personal property instead of real estate. Also, if Sharon transfers your wife the property in a Land Trust, the taxes wont go up as much and the transfer would be private. Meaning that if anyone were to search your wifes name to see if she owns property, that property wont show up. It is good if she ever gets sued because lawyers dont always find it. There are many benefits, check out Mark Warda at www.warda.net. He is a real estate attorney that has focused on Land Trusts and rental properties. You can purchase his book, it has a lot of great information. He is in Florida, though, so a lot of his stuff is geared toward Florida law.
$300 for prelims around here. Akin to highway robbery.
We pay $55.00 for prelims.
Or FREE if you do a lot of business with a family-oriented local title company.
[addsig]
I work with a National Title Company, if you need a estimate let me know the state and I can tell you how much the title will cost. It varies state to state depending on there regulations.
Sincerely
Tammy
**Please See My Profile**
Do you work with a title company? Title companies will have this form and if you have done some deals with a title company before they should be willing to give you a blank quit claim deed. You might need a special quit claim deed for deeding into a trust so look into it.
thanks. I actually found one on based on a google search.
my company website has all NY forms you can print any of them and fill them in online We have for NY, NJ and PA. (Greystreet title). Click on forms and then choose the state and everything you need will be there.
Tammy
As you already know and has already been stated, an attorney is the only one that can really answer this.
Even when it comes to things like title, it could have changed when the first person passed away. For example, a Joint Tenancy could have become a Tenancy-In-Common if the deceased person’s interest passed to their spouse, and the resulting interests owned was unequal among all the parties.
But you’re right, it still a sad situation when it comes to inheritance issues and how that can split up families. I know…I’ve been through it more than once.
Good luck with everything.
Just my 2¢
Do they want the money from the property or the property? You may agree to give them your shares of other property and money to have 100% title of this vacation home, in sense "buying them out". Does the Will of Jim and Jane state what happens to their share? Who will get their share if it was not in their Will? This may get even uglier than whats on the surface.
Definitely keep us posted as I would like to know the result of this. And sorry for all the inconviences this caused. I dont know why families get torn apart because of money. Its sad [ Edited by estateXchange on Date 05/09/2007 ]
Glad to see things are working out in your favor. Unfortunately, the other siblings might not stop here and they may try to find a loophole. This is one of the reasons it is important to have a good RE Attorney on your Team. Have your attorney keep on this and hopefully the siblings attorney will realize he does not have a case and does not waste his time and yours. Go ahead and have Sharon deed the property to your wife using a title company so it is all legit. Also, you may want to look into a Land Trust versus a Living Trust.
BTW, do we get a free week vacation at the house for our help? [ Edited by estateXchange on Date 05/10/2007 ]
I dont know too much about living trusts but have heard that land trusts are better for real estate. It would treat the real estate as personal property instead of real estate. Also, if Sharon transfers your wife the property in a Land Trust, the taxes wont go up as much and the transfer would be private. Meaning that if anyone were to search your wifes name to see if she owns property, that property wont show up. It is good if she ever gets sued because lawyers dont always find it. There are many benefits, check out Mark Warda at www.warda.net. He is a real estate attorney that has focused on Land Trusts and rental properties. You can purchase his book, it has a lot of great information. He is in Florida, though, so a lot of his stuff is geared toward Florida law.