District of Columbia | Wills and Trusts
12/21/99, 9:10 pm
Legal Question
"Sell",transfer ownership of my fully mortgaged home to heirs
I can carry the mortgage and taxes, etc. on this home through pensions and savings. Should I become mentally/physically incapacitated and have to relocate, I would prefer now in time of health to have transferred, given, sold this home that has yet to accrue any equity, to my "estate"/three children to: a: give me right to live here until ...; then the owners, my children/estate can sell it or buy it from the other two children. Can I do this? Is it legal? Would it be a financially sound move to make. I am 72. My insurance will cover the cost of entire mortgage and some. Thank you
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Read More Answered By: Bruce Lewis |
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