Legal Question in Real Estate Law in Nebraska
quitclaim deed
Our son is buying our 112 year old homestead thru lease payments. Is there any way we could allow him Q. deeds now before he has made the final purchase payment? everything we own is in revocable trust.
Asked on 3/25/07, 5:51 pm
1 Answer from Attorneys
Duke Drouillard
Drouillard Law, LLC
Re: quitclaim deed
There isn't enough information here to advise as to whether this is or is not a good idea. Do you have a mortgage on the property now? There are a number of tax implications here for both you and your son which you should understand before making a decision. Who is living on the property now? Who will be living on the property after your son acquires title? It would be a good idea to sit down with your attorney and discuss what you would like to do with the property.
Answered on 3/25/07, 7:48 pm
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