Q: How do I transfer ownership of my home to my adult son and keep living in it without the worry of being asked to leave?
Georgia home, no mortgage, want to alleviate my financial burdens,know my son wants to buy the house just can't qualify for it yet.
A:
You have suggested two different things in your. The first is that you want to son to have your house and you want to make sure you will not be asked to leave.This is accomplished by signing a quit claim deed giving your house to your son. Then, enter into a contract with your son for you to have possession of the house. This has all kinds of problems and is not a wise idea. Your house can be taken by your son's creditors if you do that. You might consider simply drafting a will, and leaving the house to your son. You could also prepare a deed that leaves the house to your son.
You then mention that your son cannot afford to buy the house. If you want him to
A: If you want him to buy your house when you pass away, you will need to prepare a will and leave the house to your son. If you have other children, and you want them to get a equal share of your estate, you will need to have your son buy the house from your estate.
Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
