Profile picture for noelohana

Removed some one from deed

My mother-in-law who is incompetent, is listed on the deed of a house we'd like to refinance and take over. I am her POA, can I sign to have her removed and how do I do that?
  • August 08 2013 - Camano Island
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Answers (9)

Thanks for reporting, Steve! All the best!
  • August 09 2013
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Profile picture for noelohana
Sounds like seeing a realistate attorney would make sence of it all. Better yet! Time to get their will updated and play the waiting game! The home in question pays for itself with a cash flow. What better way to honor your parents then letting them see what your doing with their hard earned money - while they're alive! I'll just keep managing my inheritence! We all live together under one roof with full in home care provided. Not to many can manage that! Aloha
  • August 09 2013
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Well, you sure screwed things up, Steve.

What could have been a simple, "I have POA and I am the steward of my mother-in-law's estate" has turned into chaos, and if you so much as TRY to move title, the heirs will be on you like bees on a rose.

  • August 08 2013
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Profile picture for wetdawgs
@Steve:  You desperately need to see an attorney.  I'm totally confused as your first post called the individual "Mother in Law" and now you are talking about your mother and your step mother. 

If you have documented sweat equity, get it ratified in a legal agreement.
If your father sells it to you for what he purchased it for, he may be responsible for gift taxes for the difference between fair market value and his purchase price.   If the step mother or mother in law (whoever it may be) is on the deed,  the property is partially in her estate.

If you are thinking it is your inheritance from your mother, that inheritance needs to be documented in your mother's will (it isn't something you or your Dad can decide after the fact).  Perhaps your Dad had rights of survivorship (which is common in many states).   Everything needs to be documented meeting all legal requirements to keep you out of legal potholes.

Putting a lien against the property when you didn't have a contract is going to be very tough to do.  You've lived in the home, so you did get the use of the property, you'll have to put a value on that also and deduct that from the lien.

You are proposing and claiming many items that are very complex legally and simply having POA doesn't negate those laws.  Don't put yourself in a pit that is going to be hard to climb out of.  Make an appointment with a lavvyer.
  • August 08 2013
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Profile picture for noelohana
My father remarried and at the time she wasn't on the original mortgage. However, after refi her name shows up! I have notarized statement from my father stating the home was my mothers last wishes. I have lived in this home from day one, till now! I'm willing to buy the home for the price he paid for it - his thinking is then he won't aqrew any capital gains? Plus the mutual investment (combined) would be even, minus the dwn payment which was my mothers inheritence to me. The home has been completly reinivated by myself, For over the last three years. The agreed upon sweat equity is therefore mine. My additional thought would be to put a lien against this property , then sell for all my labor - including maintaining the home/property for the last consecutive twelve years!!! I'm ready for a condo anyway! Aloha, Steve
  • August 08 2013
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You do this with the guidance of an attorney and an accountant, Steve.

The transfer of real property can trigger a tax event, and you will need to provide insurable title as security to the lender when you re-fi.

All the best,
  • August 08 2013
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Wetdawgs makes an excellent point, which is why I asked my first question. Most likely, though, you will want to consult with a real estate attorney. I have a couple that I could refer you to that I have used in the past. 

Doug
  • August 08 2013
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Profile picture for wetdawgs
You've touched on several questions that you should review with an attorney.

What powers are granted in the Power of Attorney?   Please read the documentation very carefully.   While Power of Attorney gives you control of the finances of an individual,  the intent of a PoA is not to give yourself gifts from the person's assets (which is essentially what "sign to have her removed" would mean).

The house is most likely is a portion of the assets of your mother in law's estate.   Therefore,  you may be able to buy it from her estate at this time but "take over" could trigger gift taxes that she would owe (depending on the current equity in the home).  Should there be others with interest in her estate, gifting you and your husband the assets in the house is the sort of situation where you might find yourself challenged in court in the future, both for others in the will as well as for future medical expenses. 

Please see an attorney.  We aren't lawyers and none of us know the details of the situation you are in.   It is a situation that is full of potential potholes, so it is best to have the legal advice up front.
  • August 08 2013
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Are you listed on the deed and title right now as well?
  • August 08 2013
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