In Florida, can you tell me how to transfer interest in home from mother to daughter?
Question : In Florida, can you tell me how to transfer interest in home from mother to daughter?
My dear friend’s mother is very ill and likely close to passing. Currently, my friend (who is a legal adult) shares a home with her mother however, the home is solely in the mother’s name. Being that her mother is so ill, her mother wants to transfer the rights to the property to pass to my friend so it doesn’t end up in probate. They live in Orange County, Florida and I have looked at the possibility of a quitclaim deed but not sure if that is the proper method. If possible, they would like to make it so that they both own this property as joint tenants with right of survivorship. Finding an attorney at this time is not very possible as they need this done as soon as possible since she may live past the next few days. Can anyone help me with this? I am taking care of it so that she can deal with more important matters.
Thank you!
Additions:
No heirs (she is the only issue), the mother is of sound mind, a Power of Attorney is being executed currently for all real estate transactions, not sure about the mortgage – checking into that, and the property is valued at approx $ 300K.
florida probate attorney
Best answer:
Answer by brucec83
Lawyers are fast. They can also be sure that this is what you want to do, since there may be gift tax due which would not be due if it were inherited.
if its mortgaged property it can not be done, the daughter would have to qualify for a new mortgage to purchase the house there have not been any assumable mortgages in this states for years, if the house is paid for an attorney can put her name on the deep in a few days in a few days