Legal Question in Real Estate Law in Georgia
Probate
1. Which is better to pass outside of Probate - a quit claim deed or a trust?
2. When a quick claim deed is executed on a residence (whether in trust or not).....Is the beneficiary required to REFINANCE if there is a mortgage?
3. If the house is owned jointly by a father and daughter, would it pass to daughter out of probate on father's death?
4. In #3 above, If the house is owned jointly by a father and daughter, and father lives out of state but executes a quit claim deed, would the daughter be able to file for State of GA homestead exemption?
1 Answer from Attorneys
Re: Probate
I will try to answer your questions. HOWEVER, my answers are probably not reliable without my having a little more information. If you would like to give me a call, please feel fee to do so. 1. Probably a quitclaim deed (but more probably a warranty deed). 2. The execution of any kind of deed may well trigger the "due on sale" provision contained in most mortgages. 3. Yes, if the father and daughter own the property as "tenants with rights of survivorship". 4. The daughter can only file for homestead exemption if the property is her primary residence. If you aren't in my area, as I indicated, you should at least consult with a local attorney.
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