My husband purchased a Trailer Park he owns 50 Percent and his sister and brother in law own the other 50 percent when it was purchased he was single. We were married this year and I did sign a prenupt on the Mobile home park. His sister is concerned that is not enough proctecion so she has sent us a Quick claim deed with Life estate Reservation for my husband.Question one is does his name go the deed at signing, or at death and second does he retain his half of the park until death and third once signed does he had the ability to change his mind like 10 years from now.
Country relating to Question: United States
State (if USA): Washington
we have been so frustrated. I signed a prenupt.
Good evening! I can help you out with your legal question tonight.
Yes, his name would go on the deed at signing and you could file that quit-claim deed tomorrow if you wanted.
A quit-claim deed only grants him any of YOUR interest in the property. So it is a protection for the sister and brother-in-law, in case you somehow get divorced and make a claim of ownership to that trailer park.
His sister wants one signed asap so she gets his half at his death. So if he were to sign her quick claim deed his name would go off immediately and what does life estate reservations mean
When you own property and you give a "life estate" in that property, that means the person you give that life estate to, can live on that property for the remainder of that person's life.
Ok so his name would go off the deed
wouldn't the prenupt protect them from me claiming the park
No, his name would stay on the deed.
The prenupt may protect them from claiming the park, but those are always litigated and not all of them are clear.
I have to make sure I understand the Quick claim deed with life estate reservation they want both him and I to sign it. If he signs it then woudn
sorry. If he signs as well as myself wouldn't his name go off the deed at signing
Yes, if he signs the quit claim deed and you do also, and quit-claim it over to his sister, then he won't own the property anymore. His sister wants him to give her a "life estate" in the property, so that she has the authority to stay on the property for the remainder of her life.
But he wouldn't do it in a quit-claim deed, he would put that in his will.
So he would put in his will that he is leaving the property to (whomever he wants) and giving his sister a life estate in the property.
He has done that she is really worried she will not get his half of the park
If it is in his will, then there is nothing to be worried about.
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Over 12 years of business and legal experience.
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