Q: somene wants me to sign my name on property deed so she can buy it for forty thousand dollars, from me
she'll pay me twenty thousand, the house on the lot has burn damage and is condemed i am on ssi should i take the money what are the penalties?
from ssa
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A:
Before signing any document related to the transfer of property, it is important to consult with an attorney to understand your legal rights and obligations under California law. Depending on your specific circumstances, there may be legal and financial implications to signing a property deed.
If you sign the property deed, you will be transferring ownership of the property to the other person. You will no longer be the legal owner of the property and will not be entitled to any future profits or benefits from the property.
If the property has been condemned or has burn damage, its value may be significantly lower than the amount being offered to you. In addition, if you receive SSI benefits, transferring ownership of property may affect your eligibility for those benefits.
You may want to consider speaking with a financial advisor or an attorney who specializes in estate planning or real estate law to help you understand the legal and financial implications of transferring ownership of the property. They can help you weigh the potential risks and benefits of the transaction and advise you on the best course of action based on your individual circumstances.
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