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Richard
Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 55611
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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My Mother owns a home with her cousin in Las Vegas. They

Customer Question

My Mother owns a home with her cousin in Las Vegas. They have a long standing reverse HUD mortgage. The property is upside down by about 100,000. Medical conditions forced us to relocate her with my Brother in Colorado Springs. Now we are trying to get her qualified for Medical in Colorado, however they are telling us that she has to surrender her interest in the property to qualify. She can do that (my Brother and I have a DPOA), but we are not sure specifically what the mechanics are (i,e, what documentation will satisfy that requirement). Can you advise?
Submitted: 2 years ago.
Category: Real Estate Law
Expert:  Richard replied 2 years ago.
Hi! My name is ***** ***** I look forward to helping you!
Yes....she needs to sign a quit claim deed transferring her interest in the house. You and/or your brother can sign this quit claim deed on her behalf as POA. The deed needs to be witnessed and notarized, and then recorded in the real property records in the city/county in which the property is located. It can be notarized wherever signed; it need not be notarized in the state of the property. If you need a template for the quit claim deed which you can then easily complete with your specific information, just let me know and I'll be happy to provide one for you!
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