Hermitage, TN asked in Real Estate Law for Tennessee

Q: In TN,what needs be in place upon death,widowed mom leaves mortgaged house to daughter with least tax and complications?

My wording is unclear, sorry. Mom and deceased dad are on the mortgage and the deed. Mom wants daughter to inherit the house in which they both live. Mom has no will.

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1 Lawyer Answer
Anthony M. Avery
Anthony M. Avery
  • Knoxville, TN
  • Licensed in Tennessee

A: Unless there are millions of dollars involved, no tax consequences need to be worried about. Mom should execute a deed retaining a life estate, with the remainder going to the Daughter at the grantor's death. Hire a competent attorney to draft it. Do not inform the mortgagee.

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