Legal Question in Real Estate Law in Florida

Re: names on deed

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Your mother can accomplish this by executing a Quit Claim Deed to herself for life with a remainder to both children.

The consequences of this action are 1) children will lose the stepped up basis of the property upon the death of mom; and 2) it will be necessary for mom to obtain the signature of both children if she ever decides to sell her house. While obtaining the signatures should be routine, it can become a problem if either of the children and mom disagree or become estranged from each other.

Mom needs to also make sure that the property appraiser in the county in which she lives will not consider this a transfer that will have the effect of changing the taxable value of her home. Recent changes t6 Florida law addressed this issue, but I cannot guarantee that it is being intrepreted uniformly around the state.

I would strongly suggest that mom consult with a qualified real estate attorney prior to taking any action to determine the best thing for her.

Scott R. Jay, Esq.