Legal Question in Real Estate Law in Indiana

Our son has been living in a house we own for 14 years and has been paying the equivalent of the mortgage payments, taxes, and insurance. He now wants the house in his name . He has no credit rating. How can this be done?


Asked on 9/15/15, 4:55 am

2 Answers from Attorneys
J. Norman Stark J. Norman Stark , Attorney, Architect

Dear Concerned Parents: In order to accomplish your wishes and protect your Son's rights and interests from creditors, you should consider creating and placing the title to the property into a Revocable Living Trust, naming him as successor Executor. In this way you accomplish the basic purpose, and avoid probate, and probate fees and legal expenses, all of which merely reduce the value of your estate. consult an experienced real estate Attorney for more advice and assistance.

Good luck

Sincerely,

***

�WHERE EXPERIENCE COUNTS, COUNT ON MY EXPERIENCE�

J. NORMAN STARK, ATTORNEY*

ARCHITECT EMERITUS (Ohio) A.I.A., N.C.A.R.B.

1109 Carnegie Avenue Cleveland, Ohio 44115

(216) 531-5310 x7100 Cel.:(216) 310-7100 Email: [email protected]

*Author: The Construction Claims Investigation Worklist�

***

Read more
Answered on 9/15/15, 5:16 am
Jay Rigdon Rockhill Pinnick LLP

A deed to him would work too, if all you want to do is give him the house. Sounds like there may be more facts here; sit down with an attorney in your community to ask questions and have a deed prepared if that is what you decide to do.

Read more
Answered on 9/15/15, 8:08 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Indiana