When my father died over 20 years ago, my mom moved to NC to be near me and my family and we decided to all buy a house together. We are all on the deed as tenants-in-common and we all live in the home. Does it make sense for her to give up her ownership of the property now using a quitclaim deed since she will be giving me her part of the house upon her death anyway? Will this save us all money and time? This has come up because my husband and I are doing a refinance on our mortgage loan (my mom is not on the loan) and the attorney mentioned this option was available. As tenants-in-common it's my understanding that upon her death her ownership of the property will go to her estate, and then the ownership will be granted to me. We were thinking it may be easier and maybe less costly if she removed herself from the deed now. Thank you.
