How JustAnswer Works:
  • Ask an Expert
    Experts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional Answer
    Via email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction Guarantee
    Rate the answer you receive.
Ask Richard Your Own Question
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.
Type Your Real Estate Law Question Here...
Richard is online now
A new question is answered every 9 seconds

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!
Thank you so much for allowing me to help you with your questions. I have done my best to provide information which fully addresses your question. If you have any follow up questions, please ask! If I have fully answered your question(s) to your satisfaction, I would appreciate you rating my service as OK, Good or Excellent (hopefully Good or Excellent). I thank you in advance for taking the time to provide me a positive rating!