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Bassngrammy · Aug 12, 2012, 03:08 PM

Does the state of Texas Honor 'Transfere of Deed on Death'?

Fr_Chuck · Aug 12, 2012, 03:30 PM

NO

Avoiding Probate in Texas | Nolo.com

ScottGem · Aug 12, 2012, 03:31 PM

What is a Transfer of deed on death? If you want someone to inherit property upon death you make a will or you put the property in trust for them.

Fr_Chuck · Aug 12, 2012, 05:21 PM

It is a deed, that does not transfer till death to another person, it is used in some places, it stops the other person from having any ownership prior to death.

AK lawyer · Aug 12, 2012, 07:40 PM

Originally Posted by Fr_Chuck

It is a deed, that does not transfer till death to another person, it is used in some places, it stops the other person from having any ownership prior to death.

What would be the difference between that and a deed to the other person with a reserved life estate?

Fr_Chuck · Aug 12, 2012, 07:45 PM

I just did the research, it appears there is no estate established with it ( wording) but it merely "transfers" ownership at death, as to a beneficiary.

AK lawyer · Aug 12, 2012, 07:48 PM

Originally Posted by Fr_Chuck

I just did the research, it appears there is no estate established with it ( wording) but it merely "transfers" ownership at death, as to a beneficiary.

I'm not sure exactly what you are trying to say, but it appears to amount to the same thing. I particularly am confused by the "as to a beneficiary" clause. Are you trying to suggest some sort of a trust?

Bassngrammy · Aug 12, 2012, 10:48 PM

My husbands and my home is only in his name. If he passes I do not want the finance company to take the home from me.

ScottGem · Aug 13, 2012, 03:07 AM

Originally Posted by Bassngrammy

My husbands and my home is only in his name. If he passes I do not want the finance company to take the home from me.

Nothing will stop the mortgage lender from taking the home if the mortgage isn't paid. Deeding it to you on death or as part of a will or joint ownership or whatever won't prevent that. If that concerns you then you should have enough life insurance to pay the balance on his death. You can purchase specific mortgage life insurance that will pay the remaining balance.

If he dies with the house in his name alone, then it ownership of the house will go to his heir(s). Whoever he designates in his will or, if he doesn't have a will, according to state law. http://www.texaswillsandtrustslaw.com/2010/10/18/dying-without-a-will-the-texas-intestacy-statutes/

You can simply have him add you to the will as Joint tenant with right of surviorship which would give you ownership upon his death and vice versa.

Fr_Chuck · Aug 13, 2012, 05:30 AM

Originally Posted by AK lawyer

I'm not sure exactly what you are trying to say, but it appears to amount to the same thing. I particularly am confused by the "as to a beneficiary" clause. Are you trying to suggest some sort of a trust?

Yes, same thing, just the way they are allowed to do it. I know WHY, So perhaps LISA who is much more knowledge about it, can explain it better,

Since it is done where I am at, this is purely from Google searches

JudyKayTee · Aug 13, 2012, 12:10 PM

Originally Posted by Bassngrammy

My husbands and my home is only in his name. If he passes I do not want the finance company to take the home from me.

If it's in his name he decides where/how it goes upon his death. Wasn't this covered in your divorce?

I don't understand why you think you can control what he does with his house.

ScottGem · Aug 13, 2012, 12:23 PM

Originally Posted by JudyKayTee

Wasn't this covered in your divorce?

Did I miss something here? I don't see where the OP has said she is divorced or in the process of it.

JudyKayTee · Aug 13, 2012, 12:25 PM

Originally Posted by ScottGem

Did I miss something here? I don't see where the OP has said she is divorced or in the process of it.

It's these voices inside my head. I don't know where I got that from, either...

Bassngrammy · Aug 13, 2012, 02:49 PM

Originally Posted by JudyKayTee

If it's in his name he decides where/how it goes upon his death. Wasn't this covered in your divorce?

I don't understand why you think you can control what he does with his house.

Been married 38 years - we are not divorced. I was very ill when the home was purchased and could not go to abstract company to sign the papers. I never said we were divorced. Why did you "Assume" that?
The home was purchased after a hurricane destroyed the home we were living

ScottGem · Aug 13, 2012, 02:54 PM

Originally Posted by Bassngrammy

Been married 38 years - we are not divorced. I was very ill when the home was purchased and could not go to abstract company to sign the papers. I never said we were divorced. Why did you "Assume" that?
The home was purchased after a hurricane destroyed the home we were living

Texas is a community property state. So assets acquired during the marriage are half yours.

But the matter is simple, just have him add you to the deed. This should be a simple process.

As far as the divorce thing. Some of us answer many questions daily. Sometimes we do forget which question we are answering.

JudyKayTee · Aug 13, 2012, 02:57 PM

Originally Posted by Bassngrammy

Been married 38 years - we are not divorced. I was very ill when the home was purchased and could not go to abstract company to sign the papers. I never said we were divorced. Why did you "Assume" that?
The home was purchased after a hurricane destroyed the home we were living

I confused this question with another question.

Have your husband add you to the Deed. You did say this: "If he passes I do not want the finance company to take the home from me." If he passes someone still has to make the mortgage payments unless he has mortgage insurance.

Why are you concerned that a finance company will take the property? If there is a mortgage he "probably" needs permission to add you to the Deed.