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Grandparents bought a home in their name and put the down payment for my husband and I. We live in new mexico they live in california their home was paid off so they refianced their home and paid off our home and we now make their payment. My grandmother passed away but always told us things were taken care of and her children would not be able to take our home. Well they want to sell it or us buy it from the grandfather. My question is can the grandfather sign the house over to us so that we can refiance it and pay off his home in california so that our house is in our name and his is clear. The kids want the house out of the grandfathers name which means we may lose our home what can we do?
Grandparents bought a home in their name and put the down payment for my husband and I. We live in new mexico they live in california their home was paid off so they refianced their home and paid off our home and we now make their payment. My grandmother passed away but always told us things were taken care of and her children would not be able to take our home. Well they want to sell it or us buy it from the grandfather. My question is can the grandfather sign the house over to us so that we can refiance it and pay off his home in california so that our house is in our name and his is clear. The kids want the house out of the grandfathers name which means we may lose our home what can we do?
Get a lawyer ASAP especially if you have nothing written from them saying the house is yours. If not..it just looks like you are renting "their" home.
House in NM:
Owners according to title deed: Grandfather + Grandmother
Down payment paid by: Grandfather + Grandmother
Current Resident: You and Husband.
Who Pays Monthly Mortgage? You and Husband.
House in CA:
Owners according to title deed: Grandfather + Grandmother
Refinanced by: Grandfather + Grandmother
Current Resident: Grandfather + Grandmother
Who Pays Monthly Mortgage? You and Husband.
Grandmother dies. This means owner of both house in NM and CA is Grandfather.
Grandfather's kids are direct beneficiaries of his estate, unless he has a will that states otherwise.
Get the paperwork correct. This is messy in that you will need to find a rare attorney that is a member f bar in CA & NM or visit two attorneys. You can probably get this done pro se, but it would be stupid to not cover yourself, especially is there are any additional family members / heirs.
Getting quit claim deeds recorded might be enough, but I would hate to found that something else is messed up.
My notarized Quit Claim Deed was rejected by the Los Angeles County Assessor.
2003 House was under my name, and father in-law (FIL).
2006 Refi the house under my name and wife's name. FIL signed Quit Claim Deed.
But LA Assessor did not accept it and assessed the house based as if sold to new owners, raising my property tax.
Exactly -- local customs, such as JM reported, can trigger all sorts of tax problems that a good local attorney MIGHT be able to avoid.
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