Ask Experts Questions for FREE Help !
Ask
    Yvette1984's Avatar
    Yvette1984 Posts: 1, Reputation: 1
    New Member
     
    #1

    Dec 29, 2006, 05:08 PM
    Corrective Deed, New Quit Claim Deed, or See an Attorney?
    I have a major problem with a quit claim deed that was done regarding my father's property. The intention was to put me in the deed but as an heir to the property, not as a co-owner or anything like that. So, a quit claim deed was filled out and recorded at the clerk of the circuit court. However, we just received our taxes, and they DOUBLED. It turned out that the taxes increased because my dad was taken off the property and I was added on as the new owner. The intention was not to add me as an owner, but to just put a clause in the deed stating that I was the heir. I went to my local property appraiser's office and they said I had to do a corrective deed putting my dad back on the property and then stating "retains a Life Estate..." with my name after that. Obviously, when you look at the deed, it's kind of difficult to decide where and exactly what language to use on it. So, I just picked up a certified copy of the present deed and left. My question now is: shall I just do what I was told, or file a brand new quit claim deed (I was told that because this is a new deed, my taxes could go up even higher), or just see an attorney? Can anyone (preferably someone that has in depth knowledge about this like an attorney) please give some advice as to what I should do? I am desperate (obviously we have a HUGE tax bill in our hands because of this mistake) and really need some help. My local property appraiser refused to give me advice. Please help me! I would really, really appreciate it. Thank you!
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
     
    #2

    Dec 29, 2006, 06:27 PM
    A life estate will work, although there can be some issues there also.

    They of course could have just made a will leaving it to you.

    At this point you are best just using an attorney and let them get it correct.
    It will not most likely change last years tax issue but should correct the coming year.

    While a life estate is an option
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
    Expert
     
    #3

    Dec 29, 2006, 06:44 PM
    It sounds like someone tried to prepare a deed naming you as the owner but giving your father a life estate. Whoever did it ended up transferring all of the property from your father to you instead without reserving any life estate to your father.

    I strongly recommend that you see an attorney to get this fixed. This is not something I would trust in the hands of a paralegal or even a title agency since it involves tax and estate issues in addition to property issues. See a real estate attorney in the area where the property is located as soon as possible.
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
     
    #4

    Dec 29, 2006, 07:15 PM
    What I don't understand is why the taxes doubled. Unless your father was under a senior citiizens discount, whoever owns the property should have no bearing on its tax liability, which is generally based on assessed value, not ownership.

    This instance, by the way, illustrates why its best to use a competent attorney.

    If, in fact, your father is getting a senior citizen discount, then you don't want your name on the deed at all. I think the life estate would work, but I think the better method would be to just bequeath it to you in a will. Unless his estate is very large, he can will it to you without tax consequences.
    Cvillecpm's Avatar
    Cvillecpm Posts: 553, Reputation: 28
    Senior Member
     
    #5

    Dec 30, 2006, 10:46 AM
    Quote Originally Posted by Yvette1984
    I have a major problem with a quit claim deed that was done regarding my father's property. The intention was to put me in the deed but as an heir to the property, not as a co-owner or anything like that. So, a quit claim deed was filled out and recorded at the clerk of the circuit court. However, we just received our taxes, and they DOUBLED. It turned out that the taxes increased because my dad was taken off of the property and I was added on as the new owner. The intention was not to add me as an owner, but to just put a clause in the deed stating that I was the heir. I went to my local property appraiser's office and they said I had to do a corrective deed putting my dad back on the property and then stating "retains a Life Estate..." with my name after that. Obviously, when you look at the deed, it's kind of difficult to decide where and exactly what language to use on it. So, I just picked up a certified copy of the present deed and left. My question now is: shall I just do what I was told, or file a brand new quit claim deed (I was told that because this is a new deed, my taxes could go up even higher), or just see an attorney? Can anyone (preferably someone that has in depth knowledge about this like an attorney) please give some advice as to what I should do? I am desperate (obviously we have a HUGE tax bill in our hands because of this mistake) and really need some help. My local property appraiser refused to give me advice. Please help me! I would really, really appreciate it. Thank you!
    Many states, including CA, treat deed changes as an excuse to re-assess/raise taxes.

    See a real estate attorney to correct this situation - obviously, giving you an interest in the property NOW is not the best answer. A will with you as an heir is the best option since that does not trigger an increase in the property taxes.

    Have an attorney straighten it out...

Not your question? Ask your question View similar questions

 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Quit Claim or Warranty Deed [ 5 Answers ]

I'm considering purchasing a piece of property in Florida and I have some concerns regarding the deed. The seller purchased unimproved land in April 2001 and obtained a warranty deed. Prior to this, it had a quit claim deed resulting from a transfer in May 1994. Before this, the property had a...

Quit claim deed [ 3 Answers ]

Is attorney needed for quit claim deed

Quit Claim Deed [ 2 Answers ]

Hello: I have a myriad of financial issues at this point in time. I have about 65k of unsecured debt. I have no assets with equity in them. My home is fully mortaged with no equity. I am falling behind on my unsecured debts and I am worried that they will file a lien on my home residence. ...

A Quit Claim Deed Question [ 9 Answers ]

Six months ago my daughter's father came to me and announced he was dying of cancer and wanted me to have his family home. The understanding was that when I died, that the house would go to our daughter and she could sell it, live in it, rent it out, etc. I agreed to this and we did a Quit Claim...


View more questions Search