Legal Question in Real Estate Law in Florida

Quit Claim Deeds

My husband is an officer of a corp. which is a subsidiary of another corp. On the advise of their accountant, my husband's partner quit claimed all the property from the subsidiary corp.(that my husband is an officer of) to the other corp. (that my husband has no interest in). If something were to happen to my husband's partner, is there any legal way to reclaim that property? The property really does ''belong'' to the subsidiary corp., but on paper, it does not. The accountant said it would look better financially if the property were in the other corp's name. But, we are concerned that in the event of something happening to my husband's partner, we would be left with nothing. This is real estate property that was bought as an investment. It is completely remodeled and sold at a profit. The profit is then disbursed to my husband and his partner. We really need some advise. Can we draw up a form stating that this property would be transferred back to the other corp. in the event of my husband's partner's death? Help!


Asked on 4/29/04, 11:03 am

1 Answer from Attorneys
David Slater David P. Slater, Esq.

Re: Quit Claim Deeds

Your qquestion is not clear since it mentions partners and corporations. Since your husband has no interest in the corporate owner of the property, upon its sale he would receive none of the proceeds.

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Answered on 4/29/04, 11:43 am


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