Legal Question in Real Estate Law in Florida

Quit Claim Deed and mortgage responsibility
My mother has just been diagnosed with Leukemia. She is afraid she may wind up in a nursing home or pass away in the next few years. She wants to execute a Quit Claim Deed of her personal home to me (not joint with her). When she passes away, would this home be involved in any probate since I would be the only one on the deed then?; 2) If a deed is placed in my name, does it affect my income taxes in any way?; 3) since the mortgage is still in her name, will I be responsible for the mortgage when she passes or will the mortgage company require me to be on the mortgage note now if I am the only one on the deed?; 4) will my name on the deed affect my credit as showing more ownership than I can financially afford?; 5)since I am married, would my husband have to be on the deed as well?

Asked on 2/04/05, 12:23 am

David Slater David P. Slater, Esq.

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0 attorneys agreed

Re: Quit Claim Deed and mortgage responsibility

1.no

2.no

3.yes, speak with the mortgage holder.

4.no

5.no

Answered on 2/04/05, 5:22 am

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