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What happens to a piece of real estate when the parents have died there are three siblings and one has signed a quit claim deed?
Based on the terms used I will assume the question pertains to real estate in the US. A few things are important. The prior owners who have died may have a will, a trust or they died without providing a will. Depending on how the title was held plus any provisions made prior to death which details the three siblings' possible claim to the property.
Second, the quit claim deed is mostly to let a specific person, the one signing the quit claim deed to wave any possible rights they might have had in the property. Such a deed makes no claim about any rights that the individual had, just that they are waiving all possible rights if any rights or claims happened to have existed. Denying any future interest rather than making any statement about what might have been true prior. Back to the specific question asked. The quit claim does not establish who has a claim. It will only clarify who does not have a claim if the documents is valid. In this case the quit claim confirms 1 no longer has any interest or legal claim while it the situation for the other 2 siblings is not addressed by the quit claim. Speak to a real estate attorney to get specific advice as to the present ownership of the property and if probate or other means will be needed to transfer ownership.
What else can I help you with?
When senior dies are siblings responsible for any outstanding debts?
Siblings are not typically responsible for debts unless they signed for them. The estate has to settle the debts.
Can an adult child inherit a parents debt if there are no assets?
The estate will be responsible for the debts. A child is not responsible unless they co-signed for it.
What if your parents signed a power of attorney to your brother and willed out property equally to eight children but before your parents died they signed over 8 acres of this property to another brot?
If your parents signed a power of attorney to your brother and willed their property equally to eight children, the transfer of 8 acres to another brother could complicate matters. Generally, the will's provisions regarding the distribution of property would need to be honored, but the legality of the transfer would depend on whether it was done properly and with your parents' consent. If the 8 acres were intended to be part of the estate for equitable distribution, this could lead to disputes among siblings. Consulting with a legal professional would be advisable to clarify the implications and ensure fair handling of the estate.
If your parents have signed over their house to you but have lifetime use can they still pay for repairs?
In this case, parents have actually transferred a remainder interest and retained a life estate. A life estate is a bona fide form of property ownership. As such, they can certainly pay for repairs and make improvements. They can even sell their life estate, however, the buyer of the life estate is divested upon the death of parents.
Are adult children responsible for deceased parents debt in Minnesota?
Not unless they co-signed for the debt. The estate is responsible for any remaining debts. If there is not enough in the estate to cover them, someone will not get paid.
Are siblings responsible for deceased sibling's debt?
No, not unless they have signed a joint mortgage (you borrowed money jointly) with the deceased sibling.A dead person's debts are settled out of the person's estate. If the estate does not have enough money to settle the debts then they "die" with the person.
What happens if a sister diesand she has a brother left but doesn't live with her is he liable for her debt?
Not unless he co-signed for things with her. The debt is the responsibility of the estate.
In a California probate matter what happens to any signed contracts for payment by the decedent?
The other party to the contract can make a claim against the estate.
Are children responsible for medical bills of a deceased parent when there is an estate or will?
Children are not responsible for the debts of their parents. The estate must settle the debts. The exception would be if a child signed any paperwork gaurenteeing the medical costs.
Are children responsible for deceased parents credt card debts?
Children are not responsible for their parents debts unless the co-signed for them. One of the primary reasons someone should open an estate is to resolve debts. The estate has to pay off the debts. If the estate cannot do so, they distribute as best they can. If the court approves the distribution, the debts are ended.
What happens when a promissory note is signed by two people and one dies?
The deceased's estate acquires the power to enforce, or the responsibility to pay, the promissory note.
What happens if you owe more than your estate is worth?
If you have a Will there will be a statement saying that "all of my debts are to be paid." Each creditor puts in a claim. The estate is divided among them. Your survivors don't have to pay them unless they co-signed.
