QUESTION

What should I do to be able to sell my portion of the house or to sign it over to my kid's name?

Asked on Jun 12th, 2013 on Landlord and Tenant Law - Nevada
More details to this question:
I have a house that I and my three older brothers have inherited because of our mother passing away. I don't get along with my brothers and would like to put my share of the property in my kids name because my brothers don't want to sell and I want to sell my portion of the property or put it in my kids name.
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5 ANSWERS

You can force the sale through a partition action or once your name is on the deed you can transfer your interest to your son. You should consult a real estate attorney for assistance.
Answered on Jun 13th, 2013 at 4:13 PM

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Litigation Attorney serving Bakersfield, CA at Dessy & Dessy
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Assuming that the appropriate action has been taken to transfer title from your deceased mother to the names of you and your brothers, then to sell the home you would need to start a partition action to force the liquidation of the co-ownership interests. Alternatively, you could transfer your own interest in the property by recording a deed granting your interest to your child.
Answered on Jun 13th, 2013 at 12:19 PM

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If you are tenants in common, most jurisdictions will allow you to file a partition action, and the court would have the jurisdiction to order the premises sold if the tenants in common can't agree.
Answered on Jun 13th, 2013 at 11:38 AM

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You should be able to simply quitclaim your interest to your children. So long as it is an actual gift without consideration other than love and affection, you shouldn't have to pay any real estate excise tax either. You will likely have to fill out some supplemental excise tax forms to claim the exemption, however. An attorney should be able to help you get the specific wording down correctly for the deed. It looks like you have a 1/4 interest and you probably want to be sure your kids get an equal share of your portion. If 2 kids, then each gets an 1/8th share for example.
Answered on Jun 13th, 2013 at 11:27 AM

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You can transfer your interest in the house to your children, or anyone else for that matter, by recording a deed. A real estate lawyer or escrow company can help you. Depending on how the property is currently titled, the results will differ in what you are transferring.
Answered on Jun 13th, 2013 at 11:02 AM

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