Can I remove name from title of house?

[nextwife]

I believe he was there as the closing agent, but he did get fees from us. And we DID research the best way to do it beforehand, at least with the resources I had at the time. This was 10 years ago. Plus, the real estate agent we were dealing with had told us the exact same thing about how to do this. So that's 2 different people who were supposedly experts in the business telling us the same thing.

But instead of looking back to the past as far as what should've been done, I'd like to just know now about what to do in my current situation. Someone here suggested using a Quit Claim deed to simply take my dad's name off the title, but said there are problems with it. He didn't elaborate on what they were. I can print one of these from a source online and, from what I've been told elsewhere, fill it out, have a notary witness my dad and I sign it, and then register it with the title at the Registry office for just the cost of filing it. Is there any reason why NOT to do it this way? If so, I'd just like to know now before going ahead with it if it would be a mistake.

Examples of Potential problems:

Any docketed judgments CS or tax liens that might have been out there against dad are now attached to the real estate.

Any spouse of dad may have a marital interest in the home that dad cannot quit claim away.

There is a five year "lookback" period when one receives elder assistance such as title 19. Assets transferred within a five year window of such assistance are at risk, as the govt has the right to go back for recovery.

What if dad simply changed his mind and won't deed it?

If something happened to dad (say, he was attacked by a polar bear and perished) his interest could belong to his estate, depending upon how title is held.

​

 

[Torellian]

Examples of Potential problems:

Any docketed judgments CS or tax liens that might have been out there against dad are now attached to the real estate.

Any spouse of dad may have a marital interest in the home that dad cannot quit claim away.

There is a five year "lookback" period when one receives elder assistance such as title 19. Assets transferred within a five year window of such assistance are at risk, as the govt has the right to go back for recovery.

What if dad simply changed his mind and won't deed it?

If something happened to dad (say, he was attacked by a polar bear and perished) his interest could belong to his estate, depending upon how title is held.

​

I'll address those things here:

Dad had no judgements against him.

He isn't married and doesn't plan to be again. He's been divorced 26 years.

We're aware of the lookback period, so we'd like to get that clock ticking as soon as possible. Besides, with the title as it is now without using a QC deed, they still can take half my home.

My Dad said he would QC it to me if that's what I really want. My payments are now complete and now is the time for that to happen.

People have addressed this both ways. As joint-tenants, I've been told it simply gets transferred to me upon his death. But some people say his half gets split between me and my brother. I'm still not sure which is true. That's the other reason I'd like to do the QC deed now, so his name won't be on the title if something were to happen as you described.

 

[Torellian]

Here's an update:

Last night, I attended something at the courthouse they have once each month called a Free Legal Clinic. I went to a RE attorney and showed him all of my papers and told him the whole story. He told me my promissory note holds no weight as far as showing the IRS or Medicaid anything, nor are my signed receipts. He said we should now write up a new contract between us that basically tells the whole story of what we did and why we did it the way we did. He said to register the QC deed along with something called a Transfer Return, which is something I haven't found any information online about.

He told me that if we fill out the transfer return the right way, there wouldn't be any gift tax issues to worry about. I asked him what the right way was, and he said I'd have to see an attorney about that. I asked him if he was an attorney, and he said "yes". I guess he meant I have to see still someone else. See how this is frustrating?

So now I have to figure out how to word this new contract and then sign it along with my dad. But where is this transfer return found? Is it found somewhere online that can be printed like the QC form? I've googled it, but only find sites that lead me to other things.

 

[FlyingRon]

The free legal clinic is just a step up from this board in that it has real lawyers. However, they can't really do much more than give you advice. HIRE A LAWYER TO DO THINGS RIGHT as we've been telling you from square one. This wasn't a self-help thing when you screwed it up to begin wtih, it is not a self help now. Get professional help, that means opening up that wallet and paying the $500-1000 that it will probably cost.

 

[Torellian]

The free legal clinic is just a step up from this board in that it has real lawyers. However, they can't really do much more than give you advice. HIRE A LAWYER TO DO THINGS RIGHT as we've been telling you from square one. This wasn't a self-help thing when you screwed it up to begin wtih, it is not a self help now. Get professional help, that means opening up that wallet and paying the $500-1000 that it will probably cost.

It sure seems like it can be a "self-help" thing if all that's involved is simply printing and filling out and filing 2 forms. That shouldn't cost $500-$1000 to do like you said. That's totally outlandish!
As far as your insistance that we "screwed it up"---just remember, we were taking the advice of an attorney at that time as well.

 

[anteater]

...As far as your insistance that we "screwed it up"---just remember, we were taking the advice of an attorney at that time as well.

And, yet, in your other thread, you said that it was a real estate agent that recommended it. Twice.

 

[Torellian]

And, yet, in your other thread, you said that it was a real estate agent that recommended it. Twice.

Yes, that is true. The real estate did tell me that, and as you point out, I've mentioned that before, more than once. I was also told the same thing by the attorney at the closing. But since I keep being told that I should have asked an attorney, I just point out the fact that I already did talk to an attorney instead of bringing up the real estate agent too.

Well, not to try the patience of anyone here, but I'd like to wrap up the subject by just asking a few more things in one more post. It is a follow-up to what I was told at the free legal clinic:

1. I was told to write out a contract between me and my dad stating the current situation and why we did things the way we did and why we have our names as joint tenants. He said this would be all I'd need to keep Medicaid from taking MY house if my dad went to a nursing home with both of our names on my house as joint-tenants. Is this true?

2. Once this contract is written up and signed, would having it notarized give it any extra "weight" legally?

3. Would the contract have to be registered with the current title, or is it good enough to keep it just between my dad and myself?