What is the name of your state (only U.S. law)? Texas
Hi, all... I am really hoping for some advice, since I feel over my head and do not know what to do next.
My family has had a small interest in undivided land since the 1920's or 1930's, but the land is listed as ABSTRACT such-and-such. We are working with the county tax office to determine exactly where the land is, along with finding out if the land was ever partitioned (we don't think so) and who the other landowners may be in order to partition it now.
The interest in the the undivided piece of land is in my uncle's name at the tax office, and we (his widow and the rest of the family) would like to transfer the interest in this land to my father. We were told by the tax office that a deed or will would be needed in order to change the name and address on the tax forms.
Here is my question:
- What kind of deed would you recommend in this situation?
I keep reading that Quit Claim Deeds should be avoided at all costs, but that they are useful in some circumstances. I think this situation is unique, in that no one knows the location of the property or even if it is still really our land. (I certainly hope so, esp. since we have been paying taxes on our percentage of the land for all these years!) In addition, the property interest would be transferring from one family member to another, rather than to an outside party, which would make it more simple, one would think.
We could do all the research to determine this and then do a Warranty Deed, but I think establishing my father as the landowner will assist in communicating with the tax office/title companies/surveyors/etc. Plus, my aunt is becoming annoyed that the tax records keep coming to her and wants this changed ASAP.
I am assisting my father who has no steady income and no permanent place to live. This land would be a lifeline for him, literally.
One more follow-up question just occurred to me:
- Does money need to change hands for the transfer of ownership to occur? The Quit Claim Deed forms I have seen online seem to imply so, but it would be great if not. I guess my aunt could gift the land to him, as long as the total value was under $10K, right?... but, even then, I'm unsure what forms would be needed.
Thank you in advance for your replies!What is the name of your state (only U.S. law)?
Hi, all... I am really hoping for some advice, since I feel over my head and do not know what to do next.
My family has had a small interest in undivided land since the 1920's or 1930's, but the land is listed as ABSTRACT such-and-such. We are working with the county tax office to determine exactly where the land is, along with finding out if the land was ever partitioned (we don't think so) and who the other landowners may be in order to partition it now.
The interest in the the undivided piece of land is in my uncle's name at the tax office, and we (his widow and the rest of the family) would like to transfer the interest in this land to my father. We were told by the tax office that a deed or will would be needed in order to change the name and address on the tax forms.
Here is my question:
- What kind of deed would you recommend in this situation?
I keep reading that Quit Claim Deeds should be avoided at all costs, but that they are useful in some circumstances. I think this situation is unique, in that no one knows the location of the property or even if it is still really our land. (I certainly hope so, esp. since we have been paying taxes on our percentage of the land for all these years!) In addition, the property interest would be transferring from one family member to another, rather than to an outside party, which would make it more simple, one would think.
We could do all the research to determine this and then do a Warranty Deed, but I think establishing my father as the landowner will assist in communicating with the tax office/title companies/surveyors/etc. Plus, my aunt is becoming annoyed that the tax records keep coming to her and wants this changed ASAP.
I am assisting my father who has no steady income and no permanent place to live. This land would be a lifeline for him, literally.
One more follow-up question just occurred to me:
- Does money need to change hands for the transfer of ownership to occur? The Quit Claim Deed forms I have seen online seem to imply so, but it would be great if not. I guess my aunt could gift the land to him, as long as the total value was under $10K, right?... but, even then, I'm unsure what forms would be needed.
Thank you in advance for your replies!What is the name of your state (only U.S. law)?