Quit Claim
My mother married at 83 yrs. she has owned her property as an unmarried woman for over 30 years. Unfortunatly the marriage is not working after just 1 year. She has never put her new husband on title. She wants to Quit claim this porperty over to her children. Can she do this or will the new husband have to sign off on the property now even though he has never bee n on title.
Re: Quit Claim
She should consult with an attorney regarding whether there is a community property interest in the property. The general rule is that the best way to pass property on to children is through a will. This process has the advantage of giving the children a stepped up basis in the property. Further quit claiming the property to her children could result in a gift tax that must be paid either by her on the children.
If your concern is that she will be conned out of the property then consult an attorney regarding a trust or conservatorship.
Lyle Johnson
Lyle W. Johnson Attorney at Law
152 N. Third Street, Suite 510
San Jose, CA 95112