quick claim deeds

[snookyjo]

Washington State. My husband and I wanted to quick claim deed our home to our grandson, our home is free and clear, the question I have, is this: If we were to quick claim deed our home to our grandson, how long can you wait til to record the deed? If we quick claim deed our home, to our grandson, and we never record the deed, and something was to happen to both of us, can our grandson go down at that time and record the quick claim deed himself? Does the quick claim deed need to be notorized if we were to do this?
Thank you

 

[VeronicaLodge]

its a quit claim deed not quick.

why wouldnt you want to record it

i think if you do this as opposed to leaving the house to your grandson via a will, you are setting him up for a huge tax issue.

 

[lwpat]

I agree. There will also be a gift tax. What if you need to money for long term care? Sounds like you require some serious estate planning. Check your area for an elder care attorney.

 

[divgradcurl]

If we quick claim deed our home, to our grandson, and we never record the deed, and something was to happen to both of us, can our grandson go down at that time and record the quick claim deed himself?

Yes. But.

First, there is the tax issue lwpat noted. Second, ANY conveyance can be undone by the courts if it was found to be fraudulent, like trying to avoid paying for medical care, etc. Finally, while the quit claim deed is unrecorded, it is possible that encumberances could be placed on the deed. So even if you quit claim the deed, it is possible that a lien could be placed on the deed if the quit claim deed is unrecorded.

For example, if you quit claim, but it is never recorded, and then you end up on medicare, medicare could record a lien against your property. Because the quit claim was not recorded, and you never told medicare that you gave away the property, the lien is binding on the property.

Does the quick claim deed need to be notorized if we were to do this?

You would need to check with your county recorder's office to find out what they require to record a deed. But usually notarization is required.