More details to this question:
One year ago this month, my mother-in-law quick-claim deeded a house to my wife. This means, by law, I believe, this house now belongs to her legally. This year, my wife and I are thinking about selling the house and moving into something bigger to start a family. Should the house sell, my wife and I have agreed to give my mother-in-law a set amount as a show of appreciation. However, I am concerned that she might sue for an even higher amount. Despite her being able to sue, is there a possibility of her winning?
1 ANSWER
You are correct in that the "quit-claim" deed did transfer any ownership in the property to your wife. She may have done this as part of an Estate plan. If she did not reserve to herself a "life estate" in that deed, your wife is free to dispose of the property any way she likes and keep all the proceeds. There is no legal obligation to pay any money although you may feel an ethical one to do so.
Answered on Jan 21st, 2013 at 9:51 AM