Legal Question in Wills and Trusts in New Mexico
Should I keep my half or sign it over to mom?
My father passed away suddenly, he left no will. My sister and I became the owners and my mom bought out my sister (parents divorced) for ''my protection''. I lived in the house with my dad for the last 20 years and do not want to sell, my sister wanted to sell right away because she is afraid that because of my past the feds will come in and take the house so she wants her money before this. As of today, My mother, her husband and I own the house. My mother is now wanting me to sign my half over to her under the condition that I live in it rent free until we sell it and then I will get my half at the time of sale. She is saying that this is so the feds can't take it because it isn't in my name. I say that the only 2 reasons they could take it are: it was bought with drug $ or they came in and found a working lab. Both are wrong and won't ever be proven right no matter how hard they try to find this evidence. My mom and husband are very well off and don't need my part of the money but for my protection, Should I sign over my half or not?
1 Answer from Attorneys
Re: Should I keep my half or sign it over to mom?
If the property has been used for drug sales it is subject to forfeiture no matter whose name it is in.
Conveying it to your mother with the right to live rent free until a sale and then a split of the proceeds is OK, but unnecessary. If the property is subject to forfeiture it will be seized and sold no matter what you do; if it is not, then it is not necessary that you convey it to someone else. Retaining title in your name to the extent of your interest protects you; I recommend leaving things the way they are.
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