Real Estate Deeds Made Easy Since 1997
Giver’s regret isn’t unusual. A desire to void the gift of a home after transferring the deed could happen for various reasons. Perhaps you recovered from a serious illness and could really use that home after all. Or maybe your tax expert told you that letting someone wait to inherit your home would be better …
Continue reading “I Deeded My Property to Someone Else. Can I Revoke My Gift?”
Millions of U.S. households have multiple adult generations. How do they divide up the worth of their home and the upkeep that goes into it? Who pays the mortgage, insurance, and property taxes? What happens if an owner leaves the home, or passes away? A lot comes down to good deed planning. In this discussion …
Continue reading “Multigenerational Homeownership: How the Deed Is Vested”
It’s a common question. You’re going to be added onto someone’s deed. Will you have to declare your new homeownership to the IRS? An acquisition of real estate is not considered income. But being named on a deed could still implicate taxes. Let’s explore why.
Michael B., a real estate broker, has changed his mind. He’s now pleading guilty in a felony fraud case involving deed theft. In Florida, fraudulent real estate schemes are not unusual. But when a real estate broker in active status is pursued for deed fraud, that’s the kind of case that stands out. Yes, you read …
Continue reading “Deed-Stealing Florida Broker Pleads GUILTY”
Invited to put your name on the deed to a home? It might seem totally natural to just say “thank you.” But stop and think a moment. If you accept a new deed, perhaps a quitclaim, with your name added on, you’ll put her, and yourself, at a financial disadvantage.
Passing property along when you no longer live in it shouldn’t be a huge hassle. And that’s why an increasingly popular choice is the transfer on death deed. This is a real deed, which designates a beneficiary on the real estate title. If you have a beneficiary in mind, and you aren’t already co-owners with …
Continue reading “The Transfer on Death Deed: Is It Always Simpler Than Probate?”
For various reasons, some homeowners wish to leave their home or condo to a friend. Whether you want your friend to have the title during your life, or after you’re gone, here’s how it’s done.
This year has been an interesting one for California’s revocable transfer on death deed. Beginning in 2022, California homeowners using TOD deeds (sometimes just called TODDs) must have two adult witnesses sign the document. So, for a valid TOD deed, you must sign the document, have your signature notarized, have two witnesses, and file the …
Continue reading “Staying Informed About California Transfer on Death Deeds”
Each day, about 10,000 baby boomers reach retirement age. Their recent frustrations, as they’ve grappled with Covid-19, have only accelerated the national jump to retirement. And now, this large cohort of retirees is thinking about getting its financial affairs squared away. Baby boomers still hold the lion’s share of real estate assets in the United States. At some point, …
Continue reading “As Boomers Retire, the Transfer on Death Deed Comes of Age”
New Rules for California Homeowners Since 2016, California has been offering homeowners a very simple way to transfer their homes to beneficiaries. It’s called the transfer on death deed — also written as TOD deed, TODD, or beneficiary deed. A TOD deed, where a state allows it, enables a named beneficiary to take title without …
Continue reading “Estate Planning With a Transfer on Death Deed”