Archive for the ‘quit claim deed forms’ Category

I have a question I was hoping someone could help me with. In 2009 my mother, through our attorney, did a quit claim deed and transferred ownership of a property in her name to me (in Ohio). The original mortgage on the property was already paid off, but there was and still is a HELOC on the house that remains in her name. The house was worth more than the 2009 gift amount of $13,000. However, she is no where near her lifetime $1M in excess. Unfortunately when I was helping her prepare her taxes for 2009, I did not realize a Form 709 was necessary to be filled out. After researching various other topics, I came across the Form 709 and what it is and realized I needed to file this. Since 2009 she has not gifted anything else to anyone. Can I still file a Form 709 for her for 2009? How should I handle this situation? There was no appraisal done on the property at the time of the quit claim deed so how would I figure out the value of the property (I have a solid estimate, but it wouldn’t be an exact appraisal amount)? Thanks in advance for any help you can offer.

i’m not wondering “should” i. I am trying to prevent the word getting back to the mortgage company that someone has been added to the interest of the house via quit claim deed….. I’ve looked it up, it’s not fraud. it’s a cat and mouse game….how can i win? I’ve been told that the way a mortgage company finds out is by insurance companies, or tax forms…….. well, can i just keep all those in the original name? or WHAT MIGHT CAUSE THE INSURANCE COMPANY TO SEARCH TITLE? this is really a question of how the PAPER WORK works…. i dont want to loose the home too soon, but i want to sign away some of the equity….. This is a question of gifting to someone the interest, who can not qualify for a loan on their own. please anything about how that process works would help….
i guess the real question is….will the mortgage company find out? if so how? by the insurance company? by taxes? how to avoid either of these situtaitons?
yes Dan… i wish i could ask for elaboration… really it’s a gift, not a sale. I’m just giving it away but they do not qualify for the mortgage. how can i make sure that the original name is still on the tax form when the mortage company sees it?
hmmm i’m not trying to do anything illegal… i read about how to do this on a lawyers website, i’m just double checking…. i’ve got a second a opinion from another lawyer also…. its not fraud….
risking default? yes… braking a contract? yes…. illegal or fraudulent? not as far as i’ve been told

people brake contracts in buisness all the time, and there are consequences. I am trying to limit the consequences.
ohh and if it matters, i would still be living there. I’d stil need the isurance, so what’s the problem? If something happens that is a risk i would be taking. However, unless false information is given i dont see how it could be fruadulent…. mortgage and insurance companies are not the government. They do not create laws, or enforce them. They are business partners, who are entitled to react to a breach in contract.
haha ok i’m done, this was fun though…. This was a purely hypothetical situation. I just wanted to see if there were any loopholes in the system…. i dont even own property… great education though!

I live in Rockford, IL Winnebago county and I own a home there. I decided to just give the house that I own to my sister. The house is already paid in full and does not have a mortgage. I would like to know How would I change the name on the house to my sisters name. I contacted the winnebago county recorders office and they said I could do it myself or I could hire a lawyer.They have four different forms online to choose from and I am not sure which one it is (Warranty deed, quit claim deed, warranty deed joint tenancy, or warranty deed by the entirety)

Does anyone know the difference between these two:

Interspousal Transfer Grant Deed

Interspousal Transfer Grant Deed (Community Property With Right of Survivorship)

Is this the form you would use to quit claim a spouse off title on a house, if you live in California?

First time home buyer here. For various reasons, wanted to be the sole borrower of the loan (at least for now). The lender wants me to complete a Separate Property Form, as well as a Quit Claim Deed, at the time of loan funding. The separate property form has sentences like the following: “By this Declaration and Agreement with respect to said property, the parties intend to overcome the general presumption that property acquired during marriage or registered domestic partnership is community property.” Does it mean that the house will be my own property rather than the property shared by me and my spouse? I’m in California. Thanks a lot!
Update: the question, of course, assumes that my spouse and I will both sign the relevant forms.
Wendy: can you be a little more specific? so will the property be my property alone or not?
Sure I’ll see a real lawyer, but at this point I just want to get a sense of what this is about. The Separate Property Forms also says (after the sentence quoted above):
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NOW, THEREFORE, with the intention that The XX will make a loan secured by said property to X, the parties hereby declare and agree as follows:

1) The above-described personal residence financed under the loan shall be deemed the sole and separate property of borrower in which the spouse hereby waives any and all community property interest or claim.

2) All community property funds of the parties used to make payments to The XX in satisfaction of said loan shall be deemed transmuted from community property of the parties to the separate property of borrower at the time of payment.

3) The parties have executed this Agreement as of the day and year first above written.