Search results for: “revoke”
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I Deeded My Property to Someone Else. Can I Revoke My Gift?
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…
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“We Buy Ugly Houses” (And Other Ponzi Schemes)
We’ve all stumbled into bad deals at some point — but maybe not as painfully as Ronald. In 2017, a retired Texan named Ronald took some very questionable advice. It seemed like a good idea at the time. Ronald invested with a certain Charles Carrier, who owned (what appeared to be) a hugely successful franchise…
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Married, and Not on the Deed. What Are My Rights?
Sometimes, only one spouse is named on the deed. This can be because one person already owned the home before marriage, or because one spouse inherited a deed. Or perhaps there are financial or tax advantages to having only one person on the deed and not the other. Or the sole named deed holder simply…
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Transfer on Death Deed: Second Thoughts?
Avoiding the probate courts is an important goal for some homeowners. That’s why the transfer on death deedhas achieved popularity. One by one, most states have now adopted the option. Sometimes called the TOD deed, or just TODD, it offers a relatively simple way for a deed holder to say who’ll get the deed next.…
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When Parents Won’t Let Go: Micromanaging Homes in Family Trusts
Family trusts can be helpful estate planning tools. A trust can protect a household’s assets, and effectively pass wealth along to family members. Those who receive income or assets from a family trust are called beneficiaries. But some of the people who are supposed to benefit may not entirely appreciate the gesture. They might resent…
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Should My Spouse Add Me to the Deed?
Congratulations on your marriage! One of the many questions you might have about your life ahead is whether to go onto your life partner’s home deed. While we can’t provide personalized advice, we’re glad to offer a set of considerations for anyone asking this question. Follow up with your financial adviser on the points you…
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New in New York: Transfer on Death Deeds
In July 2024, the brand-new Transfer on Death Deed Law went into effect in New York State. Residents are now free to create and record a transfer on death deed (also known as the TODD or TOD deed). If you know who you’re leaving your home to, and that person doesn’t already hold rights of…
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Home-Flipping Update: California Passes Major Disclosure Law
California just changed the home-flipping game. Fixer-upper home buyers who turn around and sell the homes must follow the new Flipper Disclosure Law, formally known as Assembly Bill 968. What’s California so concerned about? Home flippers are, of course, profit-driven. Sometimes, a flip is done quickly, with cosmetic touchups that gloss over the deeper work…
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Estate Planning for Seniors With Multiple Properties
Seniors who own multiple properties have unique estate planning challenges. It’s a good problem to have. But if you’re in this situation, you’ll need to develop a strategy to pass your valuable assets after your passing. You’ll want to know the basics about deeds, wills, and trusts. Tax implications? Yes, those too. You’ll want to…
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Can My Name Be Added to a Deed Without My Consent?
As a general matter, no. A deed transfer is not valid unless it’s delivered and accepted. A deed holder who is leaving a home to a beneficiary needs to talk with that beneficiary, and other loved ones. They should know what to expect for the deeds’ future. They should understand the reason the home is…
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How a Durable Power of Attorney Works for a Home Deed—And How to Create the POA in 8 Steps
Have you thought about estate planning and your home? One tool you should know about is the durable power of attorney. A durable POA can help a senior deed holder manage property and money, even when they’re losing the ability to do this personally. The document names your agent(s) and lays out their continuing authority…
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Understanding Transfer on Death Deeds (TODDs) and Their Introduction in Georgia
A Transfer on Death Deed (TODD) is a legal document that allows property owners to transfer real estate to a beneficiary upon their death without the need for probate. This type of deed is designed to simplify the process of property transfer, ensuring that the designated beneficiary receives the property directly, avoiding the lengthy and…
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Should I Agree to Put My Partner/Fiancé on the House Deed?
Maybe you’re buying a new home. A home for you and your significant other to live in. Or maybe you already hold a deed, and are thinking of quitclaiming it from your name into both names: you, and your unmarried partner. Perhaps your partner is paying a percentage of the housing costs, and would like…
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Deed Theft Should Not Exist
What Does It Take to Safeguard a Title? If you hold the deed, you can’t be evicted, right? True — except if your deed is pulled out from under you by a nasty actor. It shouldn’t happen, but it does. Just ask Dada, a homeowner in Oklahoma City. Someone recorded a quitclaim on Dada’s deed,…
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Multigenerational Homeownership: How the Deed Is Vested
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…
