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Deductions & credits
@j-b-duckett You really do need to consult with a local estate planning professional (preferably a local attorney).
Depending upon state law, you might wind up in probate court which can be a hassle and you and your husband will incur additional expenses.
There are other options beyond having your mom simply use a quitclaim deed to gift you and your husband her share of the property. For example, a deed could be drafted in which your mom would hold her share (one-third) as joint tenants with rights of survivorship with you and your husband while maintaining the TIC form of ownership for you, you husband, and mom for the other two-thirds.
There are several other options as well, such as a transfer on death deed.
‎September 23, 2021
12:53 PM
1,934 Views