In 2005, my mother wanted to by a townhouse. It was $121,000. She only had 100,000, so I put in $10,000 and wife put in $10k

Asked over 1 year ago - Jacksonville, FL

My mom wants to gift me her portion of the house as my inheritance. All three of us are on the deed, but by funds contributed, my wife and I are 1/6th owners. Can my mother specify her portion of ownership, or is it split equally amongst the three of us. In the event of a divorce, can my wife claim more than her half of her 1/6th investment in the property? Community property might come into play, I would like to know, and how much she would get. My mother will use the quick claim deed to gift her portion to me. We live in florida.

Attorney answers (3)

  1. Stephanie Sauer Woods

    Pro

    Contributor Level 13

    4

    Lawyers agree

    Answered . I strongly recommend that you meet with an attorney who practices in real estate and probate administration before you try to do this on your own. If it is not done properly, it can cause a royal mess and cost a lot more to fix than it would to just make sure it is done right.

  2. William W. Gwaltney

    Contributor Level 11

    4

    Lawyers agree

    Answered . First, I do not recommend a Quit Claim Deed from your mother to "gift" the property to you while she is still alive, at least not all at one time. There are numerous consequesces to this type of transaction. These consequences can be related to tax issues with IRS, or issues that you elude to in a potential divorce, or many other areas of concern. As someone posted previously, you need to consult in-depth with a Real Estate attorney and preferrably one who has experience with estate planning issues.

    You also do not mention if your mother has a will, whether you are an only child, whether her will leaves her property to someone else, and a lot of other information that needs to be obtained before a proper answer can be given.

    Please, before you and/or your mother make a costly mistake, hire an attorney for at least a thorough consult, and provide the attorney with as much information as they need or ask for.

    This answer is not intended to be legal advice and does not create an attorney client relationship. The answer... more
  3. Sean Patrick Lewis

    Contributor Level 17

    2

    Lawyers agree

    Answered . By "gift" I presume you mean, after death, through a will or a trust. Is that correct? also, I presume that you are contemplating divorce now, and the transfer of mom's portion to you is after mom's death, and thus after the divorce is likely to be final, right? If so, this will be clean, and can occur as you seem to desire it happen.

    The above is not intended to be legal advice, but may be used for general information. Please contact an attorney... more

Can't find what you're looking for? Ask a Lawyer

Get free answers from experienced attorneys.

 

Ask now

23,638 answers this week

2,630 attorneys answering

Ask a Lawyer

Get answers from top-rated lawyers.

  • It's FREE
  • It's easy
  • It's anonymous

23,638 answers this week

2,630 attorneys answering