Legal Question in Real Estate Law in California
Help! Quit Claim from near dead relative
Hi, my grandfather is about to pass but he wants to give me 160 acres in Riverside county. The land I think has some improvements (doublewide trailer perhaps?), but is basically desert.
My question is, should he quit claim it to me, and live longer than everyone expects, will his medicaid get cut off? What are the tax/SSI/other benefit implications by quit claiming? Can we just sign it and have it notarized and that's it? Are there any other ramifications by doing this? Thanks!!!
Eli
2 Answers from Attorneys
Re: Help! Quit Claim from near dead relative
You should really consult an attorney in person to discuss all the issues related to a gift of land. There may be probate issues (whether it's better to put the land into a trust, etc.), but there are certainly tax issues. I can help you with those as well. You should be careful in quitclaiming the property. Are there liens on your grandfather for unpaid judgments? If there are liens on the property you will be responsible for paying them when refinancing, or disclosing them to a bona fide buyer. Other than the tax and probate issues, it's a relatively simple and routine matter. Good luck, and call me if you need specific information. --Phil
Re: Help! Quit Claim from near dead relative
There are better ways to post-humously transfer property, as was discussed in previous reply, not until all facts are considered, can a legal opinion be rendered. I would likely recommend another method to assure the status quo. Call me directly at 16192223504.
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