Legal Question in Real Estate Law in Texas
What is the benefit to removing your name from a deed?
Father passed away several years ago. All seven of the children's names are listed on the deed. Now, the three children from the second wife(who currently lives in the house) have sent a warranty deed to all the other half-siblings to sign and return to them. The house is in Texas and the children are scattered across the east coast. What would be the benefit if any in signing the papers? Wouldn't that be removing their name from the deed? If the property was then sold the profit would then be split by those remaining on the deed? Things look a little fishy to us.
2 Answers from Attorneys
Re: What is the benefit to removing your name from a deed?
I do not know what the Deed says as to who is the Grantee, but suspect either it is solely the new wife and/or her and only her children. You are correct that by signing the Deed, if either of my suspicions are correct, you will be giving up any rights to share in the sale proceeds if the house is sold. On the other hand, again without seeing the proposed Deed, all it does is allow the widow a right to live there for her natural life, it may be conforming to law that allows a widow, not named in a Deed, to continue to live in the former marital home. Either way, I cannot properly advise you what to do without seeing the actual Deed you received.
Re: What is the benefit to removing your name from a deed?
Do not sign or contract to do anything your stepmother and any of your sibs concerning the property and deed, without consultation with an attorney.
Generally, there is No benefit in signing {the} deed, unless you (and your sibs) are being PAID your respective share and interest in the property, as indicated by a licensed appraisal report of the property.
Good luck,
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