Legal Question in Real Estate Law in Nevada

Re: Quit Claim

This will not cause a problem with Title Insurance but if there is a loan on the property, it could trigger a "due on sale clause". This means that if the house is deeded away, the lender can require the note to be paid in full as they don't know your daughter's credit worthiness.

You can still put in your trust and then after your husband passes, your daughter can get a Trustee's Deed. This will protect your husband if your daughter stops making payments.

Finally, if your husband gives your daughter more than $12,000 in value in any year, he, not her, will have to pay a gift tax. He can use his lifetime exclusion of $3 million dollars to avoid the tax, but Congress needs to renew the legislation in 2011 or the limit goes back down to $625,000.

While I am not licensed in Illinois, a good friend of mine is and I can prepare the documents, he can review them and then your husband can sign them here and I will get them recorded.

Re: Quit Claim

You really need to re-post for an Illinois legal opinion. Illinois law controls Illinois real estate.

Your question about whether the deed transfer to your husband's daughter would end the title insurance is highly technical and really cries out for an Illinois legal opinion.