Buying out other title holders

[captainjack]

What is the name of your state (only U.S. law)? New Hampshire

My mother added her three children to the title of her house several years ago, and retained a lifetime tenancy for herself. She passed away last March, and we want to sell the house, which in the current market may take quite a while. I am in a position to buy out my other two siblings' share of the property and wait for a sale, and they could use the money now.

So, I have two questions: 1. How much expense, time and complexity is involved in removing their names from the title?, and 2. Can the paperwork be done with me having Power of Atty. for them? (They live quite a distance from here).

Thanks very much!

 

[154NH773]

You will need a deed written that grants the property to you. It will have to be signed and notorized by each of the current owners including yourself. You could send it to each and when it is completely signed, you will have to file it with the Registry of Deeds.

You could probably get a POA to sign for them, but that would take as much mailing of papers, and if you have a lawyer doing it, more paperwork to pay for.

I'm assuming that the property has gone through probate or some other process and/or someone has authority to sign for your deceased mother's estate. I can't advise you on that aspect.

Although you could do it yourself, I would recommend a lawyer write the deed and advise you. It shouldn't cost too much.