QUESTION

What do I need to get a deed transfer for a house?

Asked on Oct 23rd, 2015 on Real Estate - California
More details to this question:
My mother is sick and we want to be able to be in control of her property incase anything happens to her. 
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2 ANSWERS

Real Estate Attorney serving Oakland, CA at Sack Rosendin LLP
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I agree with Richard Samuel Price that the best legal protection would be a revocable living trust. She can change it later, if she changes her mind. Upon her death, it will save her heirs from the delays, expense and annoyance of court probate proceedings. It can include a provision for a successor trustee or even an temporary trustee, if her illness prevents her from being able to take care of her financial affairs. The trust should be notarized, but that's not an absolute requirement. The deed of her home or other real property will need to be notarized. While you, your mother and an attorney are getting this done, including getting a deed prepared, signed, notarized and recorded, a quick and easy solution is the statutory power of attorney for financial affairs and the statutory power of attorney for health care decisions in the California Probate Code. Such powers last only while the person granting them is still alive. They must be notarized. There are traveling notaries who will come to her home or hospital. Do NOT deed the property to any family member or friend. When she passes away, whoever inherits the property will be entitled to a stepped-up basis for the purpose of computing any capital gains tax. If your mother has owned the property a long time, this could be a lot of money. If she gives it to any of you while she is alive, you will be stuck with her old, low tax basis, which is the price she paid for the property plus any major expansions or improvements she paid for. Dana Sack  
Answered on Nov 05th, 2015 at 2:19 PM

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Estate Litigation Attorney serving Redlands, CA at Price Law Firm, APC
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I encourage you to email or call an attorney for a full consultation.  You may get more benefit and flexibility from transferring the property to a living trust. Here is a link to an article that I wrote about transferring property: http://www.avvo.com/legal-guides/ugc/transferring-real-estate-documents-required 
Answered on Oct 24th, 2015 at 11:22 AM

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