QUESTION
When a quit claim deed is drawn up from one party to a party including a brother and sister and one sibling dies what happens?
Asked on Apr 01st, 2013 on Real Estate - Ohio
More details to this question:
My father has passed away and left me everything via his will but his house is a seperate deed that had his sisters name and his name on the deed. Also I found that the wording is hard to understand it says that the sister for her natural life then to my father. It doesn't say a life estate but says during her natural life. With my fathers death do I receive his 50% of the property of not because of the wording of the deed? It no here in the deed say the word life estate
1 ANSWER
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To give a proper answer, an attorney really needs to see the deed and the will to determine who owns what. Your question title says deed to a brother and sister, and one sibling dies. I am assuming when I read that together with the question that the two parties are you father and aunt and that your aunt is still alive.
It doesn't have to say "life estate" to act like it. Without more, this could either be a life estate created by this deed or a transfer on death deed.
Transfer on Death Statute http://codes.ohio.gov/orc/5302.23
OSBA Transfer on Death Article https://www.ohiobar.org/ForPublic/Resources/LawYouCanUse/Pages/LawYouCanUse-195.aspx
OSBA Life Estate Article http://www.ohiolegalservices.org/public/legal_terms_dictionary/life-estate
The question is, if the remainderman, your father, dies before his sister, do you become the beneficiary as a result of his will? You will need have the deed read to determine whether there is contingent beneficiary in the will
Answered on Apr 03rd, 2013 at 4:19 PM