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Title to real property is transferred by a deed. The owner must execute a deed that names the family member as the grantee. The grantee is the new owner. If there is a mortgage on the property a transfer may trigger a "due on transfer" clause and the lender can demand full payment of the mortgage. There are many legal consequences that result from transferring title to real property to a family member. The property will become vulnerable to their creditors. The family dynamics may change. The grantor may want to reserve a life estate.
You need to consult with an attorney who specializes in real estate law and also has expertise in estate planning who can review your situation, your needs, your reasons for proposing the transfer and the legal consequences. Once you have been fully informed of your options and the consequences you can make an informed decision and the attorney can draft the proper documents.
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∙ 14y ago
To change the title of your home to a family member, you would need to go through a legal process known as a property transfer. This typically involves completing a deed transfer, paying any required fees, and updating the title with the appropriate local authority. It's important to consult with a real estate attorney or a local housing authority for guidance on how to proceed with this process.
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Can a 15 year old leave home and move in with another family member legally?
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In Calif can you leave a mobile home to a family member in a revocable will which will be notarized?
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A 94 year old person on medicaid is living with a family member the home is deeded to her deceased husband what is the best way for the family member to acquire the home?
The following assumes that the Medicaid recipient's name is also on the deed/title to the home. If so, please be advised that she will be penalized if she does not receive "fair market value" when the home is sold/transferred, regardless of who the new owner is.
How is the title Soldiers Home ironic for Krebs?
The title is ironic beause krebs no longer fits in with his family and town now that he is back home.
What things can you do at home for a goodbye party for a family member?
What really matters is what your family member likes to do. For example, if I was your family member I would like to go to the beach! Ask Him or she what they like to do mostly and what they like for a feast!
Does FHA consider a condo a single family home?
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Can a family and care giver take over the home that had a reverse mortgage?
Typically, when the borrower on a reverse mortgage passes away, the family or heir can choose to sell the home, purchase it for the amount owed on the reverse mortgage, or walk away from the property. If they wish to keep the home, they will need to repay the reverse mortgage loan in full. However, it's important to consult with a legal professional or financial advisor for guidance on the specific circumstances of the situation.
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they bring you to either a group home or to another family member. Once you get taken away from a family member by CPS, then you cant go back even if you got taken away by another family member.
When inmates are released how do they get home?
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How do you write a letter showing proof of residence for a family member?
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If a child is removed from father's home During a visit for drugs and placed temporarily with a family member and the mother comes and takes him home to another state will the mother get in trouble?
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