You should seek the advice of an attorney. If your son is eighteen years old there is no legal reason not to add his name to the title. However, you may want to think about it and get fully informed before you make the transfer.
Teenagers are more likely to have bad car accidents that result in a lot of damage. If your teenage son is found to be At Fault in an accident resulting in damages he would have a valuable asset for a creditor to seize: your home. It may disqualify him for student aid if he owns a valuable asset. He would need to report it on his financial aid form as an asset.
You should also understand that he would own the home or an interest in it and may not want to give it back if that is your plan at some future date. You should be fully informed of the consequences before making the transfer.
laugh
By deed, if you own it free and clear.
You don't give your state of residence and states vary in their interpretation of marital property when it comes to real estate. You REALLY need to consult with an attorney to learn your legal rights. If your name does not appear on the deed or title to the property you COULD be in legal jeapordy if your husband's will does not provide for you to inherit his interest in the home.
Buy him a bathrobe.
You cannot sell the house because you conveyed the fee to your son and daughter. They can sell the house subject to your life estate. Or, you can all join in a deed and convey the house to a third party.
Yes, son's name must be added. Son is a separate entity from his father. The father's interest most likely passed to the mother when he died depending on how the property was titled in their deed. Therefore, if the son began signing his father's name it would be forgery and the repercussions would be serious. You should seek the advice of an attorney to transfer co-ownership to the son. You should tell the attorney of any documents the son has signed posing as his father.
He would be the natural heir unless the deed says otherwise. It would be put into trust for him. The divorce decree may also specify the distribution of the house.
Bob and Beth Carson live in the big house with their teenage son and their daughter, Taliah who is about Mady and Cara's age.
since the deed is in joint tenancy,to my understanding, the deceased name will come off the property once the death certificate is recorded in that county for the deceased,if I am understanding the question right.If the house is in foreclosure,the first person with the first lien against the property will be paid first at the time of the actual sale of the property.
You cannot remove someone's name from a deed. You would need to persuade your son-in-law to convey his interest to you by a quitclaim deed.
Well i don't know much about loans but i can say that the one who pays the EMI's of the complete loan of the house naturally the house will belong to him.Let us take an example of joint loan:Suppose a joint loan is taken by a mother and a son but the mother is unable to pay it's one of the EMI so his son pays the all the loan then it is quite natural that the house will belong to son only.
no, he was married once and he have teenage son