Legal Question in Real Estate Law in Connecticut
Quitclaim Deed - Statutory Form
In 1993, through a quitclaim deed, my parents turned their home over to myself and my two siblings. In 2000, it was decided to change this so that our parents had life tenacy. My questions is, who owns the house? Do we, the children, or has it gone back to our parents? The statutory form reads,''We,(children's names)for consideration paid less than $1.00, grant to, (parent's names and house address), AS JOINT TENANTS WITH RIGHT OF SURVIVORSHIP,WITH QC COVENANTS, A life use in...'' It then goes on to state,''Being the same premises conveyed to (children's names) by QC deed from...'' Both QC deeds are very similiar, except the latest has no signatures. Any help will be greatly appreciated.
1 Answer from Attorneys
Re: Quitclaim Deed - Statutory Form
Until the second quitclaim deed is executed (giving the life use to your parents), you and your siblings own the property in fee simple. After the life use is quitclaimed to your parents, you and your siblings still own the fee simple, but it is subject to your parents' life use.