My Father has a mortgage on a home here in Georgia. Her has terminal cancer and the hospice worker has informed us he should sign a quit claim deed on the house. Is this correct? by alj33@gmail.com from Atlanta, Georgia. Jul 1st 2010
Speak with a real estate attorney before you do anything! .... Happy funding, Rudi
Finding a good estate planning attorney is the first thing you should do. I'm sure a lot has to do with how things are handled in his estate; does he have a Will prepared? I'm not sure how things are handled in Georgia, but where I am we prefer to use a Warranty Deed in lieu of the Quit Claim. Sometimes the Quit Claim Deed can void out any existing Title Insurance Policies. Another option with that Warranty Deed might be just simply to add you to title as "Joint Tenants with Rights of Survivorship." You should also find a good tax professional; in some cases, there can be serious tax consequences by not having these things planned out right.
Ask our community a question.