That means your parents would execute a deed that transfers ownership of their property to you. You would be the new owner and the property would be vulnerable to your creditors. It is a significant legal change in title that should be handled by a professional who can explain the consequences and also explain the option of a life estate for your parents.
You should consult with an attorney who can review the situation, your parent's needs and explain the options. Deeds should always be drafted by a professional and only after the parties have been fully informed.
don't do it - if your brother has already messed up his credit - he will do it again and risk yours as well
depends on what kind of person you are! if your shallow but nice... mean but smart! sooo it's really your parents choice or yours...
It depends on what the deed says. If the deed is a right of survivorship, the property will go to the descendants of the last to die. If it is a joint ownership, the property could go to the beneficiaries of all three of the decedents.
No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.No. If your name is not on the deed then you have no ownership and thus no equity.
Home endowment, meaning you own it now.
When they "gave" you the land did they give you the deed to it? If you don't have a deed to the property with your name on it, it was never yours. It would seem you don't have the "grounds" to sue, so to speak.
How do you add a name to a deed
Unless the deed is in your name, the house technically is not legally yours. If someone were to contest the will, you would have to fight this battle in court. This also means that if you pass away, the house would revert to probate rather than going to the person in your will. You will also need your name on the deed in order to get a loan on the property or sell the property, so it is a good idea to have your name on the deed.
No you can't morgage something that is not legaly yours yet, not in your name.
It means: Yours Faisal Euer: Your or yours Faisal: it's arabic male Name
Obtain a copy from the office where land records are filed. If the deed was recorded you don't need the original. If you didn't record the deed then you have a big problem. If the record title is still in your deceased parents' names then you will need to file a probate petition to acquire legal title.
If your name is on the deed then you own the property as long as the deed is valid and properly recorded in the land records.