Legal Question in Real Estate Law in Virginia
I want to rent my house to my parents and sign my brothers onto the deed to make us equally responsible for the repairs as landloards without refinancing for my home in Virginia. how do I do it
1 Answer from Attorneys
By signing your brothers onto the deed for this property, you would most
likely be doing it under the circumstances described via what's known as a Deed of Gift by which you would be conveying part of your ownership interests
in this property to your brothers which would not guarantee in any way that
they would necessarily pay for their respective shares for repair work
done to this property.
Nevertheless, if you are determined to go ahead with this, I would suggest
that you NOT attempt to draft this legal document on your own but rather
turn it over to a real estate attorney not only to draft the afore-described instrument of conveyance but also to insure that the revised deed is properly recorded in the land records database of the appropriate circuit court
in the locality where the property is located.