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Mistake, NOT a Gift but a NAME Change ONLY

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Primardie

Junior Member
What is the name of your state? Texas

The concern is that my father died living the property we owned under one of my younger brother's name and my mother's name. I purchased a house that I am currently still paying to move my mother out of the property that my father left because it is out in the middle of no where and there are dangerous animals out there. She got bitten by an opposum and I found a snake in the house. She is on Medicaid and did not want to lose her benefits for not living on the property that my father left her so she had the property put under my name. After recent review of the contract I noticed that the contract reads that it is a gift to me which in all reality is a lie. I have six brothers and sisters that will fight me for that property the day my mother passes away. I'm concerned because the contract is wrong. It should have read name transfer or something like that. How can this be fixed or amended because there was never a gifting of any sort? There is currently a buyer for the property. My mother wants to take that money to purchase the house I got her from me. The property my father left is worth $55,000 as per the appraisal district and is being sold for $65,000. I'm concerned because the property is really my mother's property and she is really the ONLY person that will manage that money that will be received for selling it. Question 1: How can the original contract be amended to read that the property was only a name transfer and not a gifting to me? Question 2: If it were to be corrected and there were to be a name transfer document/contract drawn up, how would that affect me? Question 3: Will it still be considered a gifting? Question 4: How will it affect my mother who is on Medicaid? Question 5: Can she turn around and purchase the property from me and how will that affect her? Question 6: How will it affect me if there is no amendment of the original contract to begin with? Question 7: There are a total of 8 persons that were left that property eventhough the property is being put under my name only, how will this affect me if my mother passes on? Question 8: Should there be a will that says that the property must be split equally upon sale of the proerty? Question 9: Can my brothers and sisters collect their share of the sale of the property, legally, without the property being under their names? I mean, can they take me to court to collect or force me to sell to get their share? Question 10: What are my options in this mess? Question 11: What kind of problems am I getting into, taxwise, with this problem on hand? Question 12: Can this mess be resolved?
 
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HomeGuru

Senior Member
Primardie said:
What is the name of your state? Texas

The concern is that my father died living the property we owned under one of my younger brother's name and my mother's name. I purchased a house that I am currently still paying to move my mother out of the property that my father left because it is out in the middle of no where and there are dangerous animals out there. She got bitten by an opposum and I found a snake in the house. She is on Medicaid and did not want to lose her benefits for not living on the property that my father left her so she had the property put under my name. After recent review of the contract I noticed that the contract reads that it is a gift to me which in all reality is a lie. I have six brothers and sisters that will fight me for that property the day my mother passes away. I'm concerned because the contract is wrong. It should have read name transfer or something like that. How can this be fixed or amended because there was never a gifting of any sort? There is currently a buyer for the property. My mother wants to take that money to purchase the house I got her from me. The property my father left is worth $55,000 as per the appraisal district and is being sold for $65,000. I'm concerned because the property is really my mother's property and she is really the ONLY person that will manage that money that will be received for selling it. Question 1: How can the original contract be amended to read that the property was only a name transfer and not a gifting to me? Question 2: If it were to be corrected and there were to be a name transfer document/contract drawn up, how would that affect me? Question 3: Will it still be considered a gifting? Question 4: How will it affect my mother who is on Medicaid? Question 5: Can she turn around and purchase the property from me and how will that affect her? Question 6: How will it affect me if there is no amendment of the original contract to begin with? Question 7: There are a total of 8 persons that were left that property eventhough the property is being put under my name only, how will this affect me if my mother passes on? Question 8: Should there be a will that says that the property must be split equally upon sale of the proerty? Question 9: Can my brothers and sisters collect their share of the sale of the property, legally, without the property being under their names? I mean, can they take me to court to collect or force me to sell to get their share? Question 10: What are my options in this mess? Question 11: What kind of problems am I getting into, taxwise, with this problem on hand? Question 12: Can this mess be resolved?

**A: post tax questions in the proper forum.
 

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