In calif. Add. Must add. Kids. At. Least. Two years before. You die. Go to. Your county. Law. Library and get. Joint. Tenant forms. Cost you about 3.dollars for forms. Then go to recorder. To. Get copy. Of deed. Enter deed description . Then add or delete names. On. Deed . Go to notary public This. Will cost you. About 150 dollars.....simple
I always worked...COVID; was a " wake up, call ", so was a car accident, later on..By the time, approval comes down for SSDI; and all the " needed expenses " to cope; if you werent poor, you soon would be..Its a disgrace, it really is...i pray, 🙌🙌 for more " powerful laws in this Country ", i really do..If being " bedridden" didnt " take me out " and sustsining injuries and deslung wuth the pain, didnt " take me out " then tbe realuzatuin of " all your hard work ", shoved, into a " low uncome category " didnt make me " totally insane " i dont kniw, what else.." Disgusting Crime " to be in thus suruatuin, ive got to say..But " Thanks " fir your prigram; si that, hooefully, we can unite with out local senators, to create better laws...Thank you, for all that you do !! 🙌🙌👍👍
My daughter died and she have 3 children but my daughter has insurance money .Shall my grand daughter who is a minor responsible to pay her mother’s debt?
I have a trust. I am a senior single adult, never married. I left my property to my cousin's children. I do not want it sold. This property has to stay in the family. It's how I wanted it. And if something happens and I have to go to a home, they cannot take my house. I did this about four years ago. I wanted a trust and I paid for the trust. Adding on these kids to the deed makes no sense to me. I don't care about my debts after I die. They can take what's left of my money, I care about the house and property. I will spend my money. They don't need money. But I know they will follow my wishes about the house and property.
Does your house have to be paid off before you could put it in a survivorship right? If not, does the person that the house goes to finish paying the mortgage?
It does not. The survivor is not liable for the debt but would have to pay it to prevent a foreclosure. They may get away by just maintaining the payments. Banks are not in the practice of calling a loan when the borrower dies as long as they are still receiving payments. A reverse mortgage is the exception. Eric HELPS
Great Video, Question: If the property was owned by a married couple, husband dies. Does the wife to remove the deceased name off the tittle before they add the adult child? SO two transfers? First on to just the wife then back to self and adult child? Or one transaction?
State laws govern this but normally where property is owned jointly with survivorship rights the property is then automatically owned by the survivor or survivors when a joint owner dies. No need to change title since the joint owner is deceased, and per the deed the survivor or survivors own the property. If the property were owned by husband and wife and children for example jointly with rights of survivorship as each one passes the survivor or survivors own the property without having to do anything with the deed. Eric HELPS
There is much misinformation about reverse mortgages. Senior Living has a video with HELPS discussing when a reverse mortgage makes sense. A reverse mortgage for many seniors can be an answer to prayer. Unfortunately, many who don't know what they are talking about throw the baby out with the bath water. Eric HELPS
You gentlemen think of everything and I'm better for it. When I was divorced my house was paid for 25 years . I took a quit claim. When I received all my information from the bank, he my ex-husband had taken all the equity. How do you do that with one signature. What are my options?
You will need to see a local attorney. If you were on the title to the home with him he could not have offered the home as security without your notarized signature. Its possible there could be fraud involved in which event the banks lien is not valid. Eric HELPS
@@HELPSNonprofitLawFirm you give such great information. This is the second time I've heard fraud in connection with his name. I'll look back at all the paperwork because I was not present when he took out that second mortgage but I was clearly on the first mortgage because I have the paperwork and the Lawyers title . How much longer will my plot keep thickening
What about a Lady Bird contract from Parent to child. I'm in the state of Michigan. Doesnt the home automatically go to the adult child with no need for child to pay parents Credit card debt?
So is this a possible problem with joint tenancy? Let's say I have my house as a joint tenant with survivorship with my son. He owns half of the house. Now, let's say he gets into trouble financially, he get sued or he has to file bankruptcy, can't the people who he owes money to then come after the house?
You can always come up with a scenario where there may or may not be a problem. You losing the home in the event of his bankruptcy is not an issue here. Possible other problems yes but far too complicated to answer in a reply. We live in a real world where we all calculate odds of this or that thing happening. Does getting hit by a drunk driver prevent you from driving to the store to buy groceries on Friday night? Sure its possible and you could choose not to drive if you are worried about that. But if you did get hit then It could be anything from a little dent to a lot more. Trying to live in a perfect world where there are no problems might make one's life pretty limiting. Eric HELPS
@@HELPSNonprofitLawFirm No need for the analogy as I realize that we can't cover all our bases. Simply wanted to know if the house would be at risk if I had joint tenancy with my son.
I'm wondering why you didn't mention Lady Bird Deed. I am a no-income senior caring for my mother with dementia, living on her retirement income. My home is paid off. I have a Ladybird deed for my only child to inherit my home. Why is that not a viable option?
Transfer on Death Deed (TOD) or Lady Bird Deed These kinds of deeds provide that property transfers to a specific person or persons at the time of death. These deeds also avoid probate. The difference between this type of deed, and a joint tenancy deed is that the person receiving the property, your children for example, have no ownership interest until your death. Since the transfer doesn't take place until your death, if you were previously sued, and there was a judgment lien, the person getting the property would get the property subject to a judgment lien. Because of this, these deeds are not effective against a judgment lien. If the senior's intent is to give their kids the home free of a possible future judgment lien, this type of deed may be ineffective. However, this type of deed will allow a senior to change their mind about who will receive the property because the receiver doesn't have an ownership interest until the senior's death. Eric HELPS
Very informative. I live in Oklahoma, I want to do a quick claim deed and deed my home to my grandson. I own my home, I get to much money to qualify for Medicaid but I do get the advantage program which pays my Medicare premium and I don’t have to pay for my health insurance. I want to move out of my house because insurance is to high, taxes are to high and I am just not able to do the upkeep on my home, like mow, paint, fix things that need to be fixed. My question is how do I go about this so I don’t raise an eyebrow with Medicare so I don’t lose the benefits I get?
I'm 70, retired, widowed, on SS and live in NYS -- the land of taxes. I'm very overwhelmed with property taxes and in danger of being evicted next year. I treasure my independence and in fact, I'm entertaining thoughts of remarrying once I get my medical issues under control. My wife and I bought this property in 1978 and I intend to remain here until the end of my life. Is there any relief or protection from these pirates calling themselves "government" from stealing my hard-earned home from me? My grown children also have no interest in it. (I never received the $1400 stimulus either.)
If a child is sued or is in bankruptcy, couldn’t the parents home have a lien placed on it if they have their child included in the ownership of their home or property?🤔💭
Yes and No. A number of factors would need to be considered to see if it would be a problem. If a child is facing financial problems then those factors should be considered. However as a general rule the home would not be at risk to foreclosure because of a child financial problems if a child's name is added to the title to the home as joint owner with survivorship rights. Eric HELPS
The house can be foreclosed, which can affect a tenant's rights to stay in the home. But this all takes time a lot of time. Time to make other living arrangments. Eric HELPS
My mom gave my brother the house with a quck claim deed a few years before she died to ensure that her dusabled dauggter and only grandson got nothing and the addict brother didnt have to pay the debt he ran up on her credit. Sick and sad. They got away with it perfectly.
@@benton-benton A transfer on death deed probably doesn't work if the intent is to pass property to heirs free of nonconsensual liens like a judgment. Here is a quote describing one state's laws regarding a TOD deed. You can check your state but I strongly suspect it is the same: "A TOD deed does not affect the rights of the owner's creditors. They can get a lien against the property or use it to satisfy judgments. A beneficiary who takes title under a TOD deed takes the property subject to all existing encumbrances, liens and restrictions." Eric HELPS
@@HELPSNonprofitLawFirm Thank you. Yes I know that about the lien. In other words, if there's a mortgage it has to be paid off by heir. Can be paid off out of proceeds of house. House can be sold as is to cash buyer, to sell it quickly. Or heir can pay it off. Is that right?
@@benton-benton A mortgage liens has to be paid no matter what. What the video is talking about is a consensual or judgment lien which a TOD doesn't protect against. And you can pay off a mortgage however you want in order to pass clear title. Eric HELPS
Inheritance taxes are when you receive property upon a person passing. In the discussion, the person is already a joint owner. Also, federal taxes for inheritance begin at 11.7 million. State laws vary but unlikely an issue. Eric HELPS
I appreciate your videos very much, but when you say we are conforming to social distancing guidelines, you do realize that when you did this video there were thousands upon thousands of seniors living alone or who were in nursing homes literally dying of loneliness! I know of people in my area who died because their family could not go into see them! You of all people should have been fighting for people to be able to see their loved ones regardless of where they lived time when it was very stressful for everyone and the elderly people needed their families. And people in your position and other senior Advocates should have shouted from the rooftops that it was immoral and against the rights of everyone be forced to stay out of nursing homes or out of apartment buildings or anything like that!
An excellent video. thanks to both of you.
You're welcome. Don't forget to share the channel with your friends.
I cannot tell you how grateful I am for Eric’s advise. Thank you kind sir!
In calif. Add. Must add. Kids. At. Least. Two years before. You die. Go to. Your county. Law. Library and get. Joint. Tenant forms. Cost you about 3.dollars for forms. Then go to recorder. To. Get copy. Of deed. Enter deed description . Then add or delete names. On. Deed . Go to notary public
This. Will cost you. About 150 dollars.....simple
I have transferred homes into a friends name 4 times & it cose me $22 dollars. Just down load a Grant deed . Fill it out& sign it in front of a notary
Excellent way to pay for the help of relatives when needed at home. Home care
I always worked...COVID; was a " wake up, call ", so was a car accident, later on..By the time, approval comes down for SSDI; and all the " needed expenses " to cope; if you werent poor, you soon would be..Its a disgrace, it really is...i pray, 🙌🙌 for more " powerful laws in this Country ", i really do..If being " bedridden" didnt " take me out " and sustsining injuries and deslung wuth the pain, didnt " take me out " then tbe realuzatuin of " all your hard work ", shoved, into a " low uncome category " didnt make me " totally insane " i dont kniw, what else.." Disgusting Crime " to be in thus suruatuin, ive got to say..But " Thanks " fir your prigram; si that, hooefully, we can unite with out local senators, to create better laws...Thank you, for all that you do !! 🙌🙌👍👍
Thank you so much. God bless you.
You are so welcome! Hope we helped.
My daughter died and she have 3 children but my daughter has insurance money .Shall my grand daughter who is a minor responsible to pay her mother’s debt?
You should consult a lawyer, but they shouldn't have to be. Watch ruclips.net/video/c4MfndVNu30/видео.html
Thank you for the good reply God bless you
Thanks Guys
Our pleasure! Thanks for watching.
Very informative
Glad it was helpful!
Thankyou
I have a trust. I am a senior single adult, never married. I left my property to my cousin's children. I do not want it sold. This property has to stay in the family. It's how I wanted it. And if something happens and I have to go to a home, they cannot take my house. I did this about four years ago. I wanted a trust and I paid for the trust. Adding on these kids to the deed makes no sense to me. I don't care about my debts after I die. They can take what's left of my money, I care about the house and property. I will spend my money. They don't need money. But I know they will follow my wishes about the house and property.
Does your house have to be paid off before you could put it in a survivorship right? If not, does the person that the house goes to finish paying the mortgage?
It does not. The survivor is not liable for the debt but would have to pay it to prevent a foreclosure. They may get away by just maintaining the payments. Banks are not in the practice of calling a loan when the borrower dies as long as they are still receiving payments. A reverse mortgage is the exception. Eric HELPS
Great Video, Question: If the property was owned by a married couple, husband dies. Does the wife to remove the deceased name off the tittle before they add the adult child? SO two transfers? First on to just the wife then back to self and adult child? Or one transaction?
State laws govern this but normally where property is owned jointly with survivorship rights the property is then automatically owned by the survivor or survivors when a joint owner dies. No need to change title since the joint owner is deceased, and per the deed the survivor or survivors own the property. If the property were owned by husband and wife and children for example jointly with rights of survivorship as each one passes the survivor or survivors own the property without having to do anything with the deed. Eric HELPS
Thanks so much. Hope we were able to help.
How about reverse mortgages? Any help to families or not?
There is much misinformation about reverse mortgages. Senior Living has a video with HELPS discussing when a reverse mortgage makes sense. A reverse mortgage for many seniors can be an answer to prayer. Unfortunately, many who don't know what they are talking about throw the baby out with the bath water. Eric HELPS
Good advise
Thank you. Please share the channel with your friends.
You gentlemen think of everything and I'm better for it. When I was divorced my house was paid for 25 years . I took a quit claim. When I received all my information from the bank, he my ex-husband had taken all the equity. How do you do that with one signature. What are my options?
You will need to see a local attorney. If you were on the title to the home with him he could not have offered the home as security without your notarized signature. Its possible there could be fraud involved in which event the banks lien is not valid. Eric HELPS
@@HELPSNonprofitLawFirm you give such great information. This is the second time I've heard fraud in connection with his name. I'll look back at all the paperwork because I was not present when he took out that second mortgage but I was clearly on the first mortgage because I have the paperwork and the Lawyers title .
How much longer will my plot keep thickening
What about a Lady Bird contract from Parent to child. I'm in the state of Michigan. Doesnt the home automatically go to the adult child with no need for child to pay parents Credit card debt?
A lady bird deed where it is allowed can allow property to be conveyed to children without paying certain debt.
@@HELPSNonprofitLawFirm ..thank you for your prompt reply 😁 what about credit card debt? That's all my parent has!
So is this a possible problem with joint tenancy? Let's say I have my house as a joint tenant with survivorship with my son. He owns half of the house. Now, let's say he gets into trouble financially, he get sued or he has to file bankruptcy, can't the people who he owes money to then come after the house?
You can always come up with a scenario where there may or may not be a problem. You losing the home in the event of his bankruptcy is not an issue here. Possible other problems yes but far too complicated to answer in a reply. We live in a real world where we all calculate odds of this or that thing happening. Does getting hit by a drunk driver prevent you from driving to the store to buy groceries on Friday night? Sure its possible and you could choose not to drive if you are worried about that. But if you did get hit then It could be anything from a little dent to a lot more. Trying to live in a perfect world where there are no problems might make one's life pretty limiting. Eric HELPS
@@HELPSNonprofitLawFirm No need for the analogy as I realize that we can't cover all our bases. Simply wanted to know if the house would be at risk if I had joint tenancy with my son.
Understand and no the house should not be at risk Eric HELPS @@jenkinsljenkinssquire9137
Do the house have to be paid off to add children to deed?
No
Does your child have to pay capital gains if parent does the joint tenancy with survivorship right if they decide to sell property?
There could always be tax consequences. That needs to be balanced against debt would have to be paid otherwise. Eric HELPS
How can one claim home if you’ve paid notes while buying, but the other paying spouse name not on deed? And husband is deceased
Too complicated to answer in a reply. Eric HELPS
I'm wondering why you didn't mention Lady Bird Deed. I am a no-income senior caring for my mother with dementia, living on her retirement income. My home is paid off. I have a Ladybird deed for my only child to inherit my home. Why is that not a viable option?
I'm not an attorney, but I believe Lady Bird deeds are only available in certain states, so they're not available to all of our viewers.
Transfer on Death Deed (TOD) or Lady Bird Deed
These kinds of deeds provide that property transfers to a specific person or persons at the time of death. These deeds also avoid probate. The difference between this type of deed, and a joint tenancy deed is that the person receiving the property, your children for example, have no ownership interest until your death. Since the transfer doesn't take place until your death, if you were previously sued, and there was a judgment lien, the person getting the property would get the property subject to a judgment lien. Because of this, these deeds are not effective against a judgment lien. If the senior's intent is to give their kids the home free of a possible future judgment lien, this type of deed may be ineffective. However, this type of deed will allow a senior to change their mind about who will receive the property because the receiver doesn't have an ownership interest until the senior's death. Eric HELPS
how and where to go to add a child name on my home.
I wonder if unpaid property taxes are covered n this.
Property taxes are owe "by the property " so no they would need to be paid Eric HELPS
Very informative. I live in Oklahoma, I want to do a quick claim deed and deed my home to my grandson. I own my home, I get to much money to qualify for Medicaid but I do get the advantage program which pays my Medicare premium and I don’t have to pay for my health insurance. I want to move out of my house because insurance is to high, taxes are to high and I am just not able to do the upkeep on my home, like mow, paint, fix things that need to be fixed. My question is how do I go about this so I don’t raise an eyebrow with Medicare so I don’t lose the benefits I get?
What if daughter has student loans would they take money out of house to pay them off daughter inherits home in this way after parents passing?
Highly unlikely. Student loans typically don't file lawsuit to get judgments. Eric HELPS
I'm 70, retired, widowed, on SS and live in NYS -- the land of taxes. I'm very overwhelmed with property taxes and in danger of being evicted next year. I treasure my independence and in fact, I'm entertaining thoughts of remarrying once I get my medical issues under control. My wife and I bought this property in 1978 and I intend to remain here until the end of my life. Is there any relief or protection from these pirates calling themselves "government" from stealing my hard-earned home from me? My grown children also have no interest in it. (I never received the $1400 stimulus either.)
contact the HELPS Nonprofit Law Firm, call 1-855-435-7787
You might want to call HELPS and talk to one of the attorneys. There may be an answer you are not aware. Eric HELPS
If a child is sued or is in bankruptcy, couldn’t the parents home have a lien placed on it if they have their child included in the ownership of their home or property?🤔💭
Yes and No. A number of factors would need to be considered to see if it would be a problem. If a child is facing financial problems then those factors should be considered. However as a general rule the home would not be at risk to foreclosure because of a child financial problems if a child's name is added to the title to the home as joint owner with survivorship rights. Eric HELPS
Does a property lien die when I die if it's for unverified child support that I just found out about that's not proven?
Depends how the property is owned but if in your name alone then probably no Eric HELPS
I am a renter with a room from a house can they take property of the landlord
The house can be foreclosed, which can affect a tenant's rights to stay in the home. But this all takes time a lot of time. Time to make other living arrangments. Eric HELPS
How about filing bankruptcy?
Senior Living has a video with HELPS on this topic here: drive.google.com/drive/folders/1gNj5mvY_fEA4knT29pmsq_KYgUMTTrPN
My mom gave my brother the house with a quck claim deed a few years before she died to ensure that her dusabled dauggter and only grandson got nothing and the addict brother didnt have to pay the debt he ran up on her credit. Sick and sad. They got away with it perfectly.
So sorry for you.
how can I pass a land contract to my children
'Same way
CAN YOUR STIMULUS BE TAKEN FOR CREDIT CARD DEBT? I'M 68 SOCIAL SECURITY AND GET 814 A MONTH
Senior living has a video with HELPS on this topic Eric HELPS
What about a tod?
Not clear on the accronym tod
@@HELPSNonprofitLawFirm for house - transfer on death affidavit. pod for bank account - payable on death
@@benton-benton A transfer on death deed probably doesn't work if the intent is to pass property to heirs free of nonconsensual liens like a judgment. Here is a quote describing one state's laws regarding a TOD deed. You can check your state but I strongly suspect it is the same: "A TOD deed does not affect the rights of the owner's creditors. They can get a lien against the property or use it to satisfy judgments. A beneficiary who takes title under a TOD deed takes the property subject to all existing encumbrances, liens and restrictions." Eric HELPS
@@HELPSNonprofitLawFirm Thank you. Yes I know that about the lien. In other words, if there's a mortgage it has to be paid off by heir. Can be paid off out of proceeds of house. House can be sold as is to cash buyer, to sell it quickly. Or heir can pay it off. Is that right?
@@benton-benton A mortgage liens has to be paid no matter what. What the video is talking about is a consensual or judgment lien which a TOD doesn't protect against. And you can pay off a mortgage however you want in order to pass clear title. Eric HELPS
HOW ABOUT INHERITANCE TAXES??
Inheritance taxes are when you receive property upon a person passing. In the discussion, the person is already a joint owner. Also, federal taxes for inheritance begin at 11.7 million. State laws vary but unlikely an issue. Eric HELPS
I appreciate your videos very much, but when you say we are conforming to social distancing guidelines, you do realize that when you did this video there were thousands upon thousands of seniors living alone or who were in nursing homes literally dying of loneliness! I know of people in my area who died because their family could not go into see them! You of all people should have been fighting for people to be able to see their loved ones regardless of where they lived time when it was very stressful for everyone and the elderly people needed their families. And people in your position and other senior Advocates should have shouted from the rooftops that it was immoral and against the rights of everyone be forced to stay out of nursing homes or out of apartment buildings or anything like that!
I really hope to get a reply please
We replied. And we really hope to subscribe to us!
🥱OMG what a confusing mush of words .... maybe a bad day?! Ethel Perry