Legal Question in Real Estate Law in Florida
Property deed/
My husband and I never added my name to the deed of a property we own in FL (we reside in GA)....my husband is seriously ill and I am the beneficiary on the will. My question is....should he ''quit claim'' deed the house into both of our names OR quit claim the deed to a trust that we have recently established? Is there a tax issue I should be aware of?
2 Answers from Attorneys
Re: Property deed/
Other than a possible tax issue, you have a fraud issue. Transferring property to avoid the payment of debts, such as medical bills, is called a fraudulent conveyance in virtually all states.
Re: Property deed/
Wow. Mr. Riddle is a hard a**, isn't he. In order to avoid having to probate the property here in Florida, you need to do something before his death. Deeding the property into the two names as joint tenants with right of survivorship, or deeding it to you and retaining a life estate for him are two possibilities. The latter would probably be better for capital gain purposes when you later sell the property. He could also deed it into the Trust, but without knowing the detainls about the Trust, I could not recommend that. I you wish, you may call me and I will try to answer your question more completely - no obligation.
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