Q: My grandmother wants to sign the deed for her property over to me in Puerto Rico. what complications may I face?
She has the deed and it is registered with the property registry in her county under her name. I am not sure if she owes any taxes etc. on the property but she has owned this land for over 30 years. The property needs maintenance as well. I am looking for some tips in the right directin on how to handle this.
A: Good evening and thank you for using JUSTIA. There are various questions you need to be answered before you accept such as is there a mortgage, is this her only property, are there any children (future inheritors), is it tax free, any liens, ect. The first thing you should do is have a title search done to find answers to your questions. Once this has been done you will then know the economical burden if any and if the deed is free and clear of any claim. The next step is to verify the future inheritors status if any. This will avoid any claims in the future. Have grandma make a will to dispose of all her belongings after she is gone. This will avoid all problems with the future estate. Verify your donation tax liability with the local tax office (Hacienda). Finally verify the costs of repairs and maitanance to be sure that you can maintain it to avoid losing said property as abandoned or public nuisance. Once you have done it all you are ready to make an educated decision.
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