Legal Question in Wills and Trusts in Georgia
Quitcliam Deed
I am considering putting my son on my house deed to share in ownership (not on the mortgage. I have been told to execute a quitclaim deed and have it recorded in Probate Court, however, when researching the definition of quitclaim deed, I find that it is described as a document to transfer ownership. I do not want to transfer ownership, I just want to add my son, so that we share ownership. Is a quitclaim deed the correct document to accomplish this goal?
3 Answers from Attorneys
Re: Quitcliam Deed
A Quitclaim Deed is a transfer of ownership regardless of whether the ownership being transferred is 100%, 50% or some other percentage, it is a transfer of ownership.
Re: Quitcliam Deed
Please get legal advice before proceeding. Adding a name to real property is not like adding a signature to a checking account. It does create ownership and there are different types of ownership it can create. It also has gift tax, Medicaid, increased liability, and other estate planning ramifications. Finally the Probate Court is not where such a deed is filed. You are on the verge of making a choice that has the potential for far reaching effects. Do yourself a favor and get some personalized advice about your situation.
Re: Quitcliam Deed
A quitclaim deed transfers ownership. There is no such thing as "adding someone to a deed." When you deed something you transfer whatever interest the deed specifies. There are many consequences, and this is not something to do without legal advice. By the way, deeds are not recorded with the Probate Court. A different court handles them.
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