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Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 29031
Experience:  30 years of real estate practice experience.
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I want to do a quit claim deed..to my daughter and son in

Customer Question

I want to do a quit claim deed..to my daughter and son in law because my daughter has bad credit and can not get a loan at this time..My son in law need to establish credit..so a quit claim deed would allow me to turn over home asap...1st question need to know if the above information possible..if so can her creditors come after the property once in her name..then I need to know if all this would work ..can I put a clause in the quit claim deed stating..if for any reason my daughter not in the home (death or any other reason)..I can reclaim property to myself or other named person(s).. thank you
Submitted: 2 months ago.
Category: Real Estate Law
Expert:  Loren replied 2 months ago.

Good evening. I am Loren, a licensed attorney, and I look forward to assisting you.

It is not really possible to quitclaim fee simple with a reversionary clause.

What about a life estate with a reversionary interest and a remainderman?

Expert:  Loren replied 2 months ago.

Actually, upon further research, you may quitclaim to your daughter with a reversion clause if the home is no longer her residence.

It is just sometimes difficult to enforce the reversion. So, you will want to retain local counsel to make sure it is properly drafted.

Expert:  Loren replied 2 months ago.

If you need assistance finding local counsel try Martindale Hubble (site rules prohibit us from referring specific attorneys) . Many attorneys themselves use this site to locate attorneys outside their jurisdiction or expertise:

http://www.martindale.com/Find-Lawyers-and-Law-Firms.aspx

It is a huge worldwide database searchable by location and specialty. The attorneys are all peer rated. So, they represent the top of the profession.

Expert:  Loren replied 2 months ago.

Are you online with me?

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