Full question:
MY husband & I bought a house here 5 yrs ago. We are sickly & I wonder if I can just add my daughters name to the deed so that she can take over the house should either of us die.
- Category: Real Property
- Subcategory: Deeds
- Date:
- State: Florida
Answer:
A deed is the legal document that transfers ownership of real property. It must include a description of the property, the names of the parties involved (grantor and grantee), and be signed and notarized by the grantor. To be valid, the deed must be delivered and accepted by the grantee, which can be indicated by recording the deed.
There are two main types of deeds: a warranty deed, which guarantees the grantor owns the title, and a quitclaim deed, which transfers only the interest the grantor has without warranties. A quitclaim deed is often used among family members and does not protect against existing claims on the property.
Adding your daughter to the deed may make you all tenants in common, meaning that if one owner dies, their share does not automatically go to the other owners. Instead, it may require court administration to transfer the deceased's interest. Alternatively, you could consider a joint tenancy, which allows the surviving owner to inherit the property directly upon the death of the other owner.
A beneficiary deed is another option. It does not transfer ownership until the owner dies, allowing the property to bypass probate. This type of deed may be useful for estate planning.
Given your situation, I recommend consulting a local attorney who can provide tailored advice based on your specific circumstances and the relevant laws in your state.
This content is for informational purposes only and is not legal advice. Legal statutes mentioned reflect the law at the time the content was written and may no longer be current. Always verify the latest version of the law before relying on it.