As you've the power of attorney, you can sign a quitclaim deed in your name in order to get the properties transferred in your name. After you transfer the property in your names, then you need to refinance the mortgage in your name. Thanks
Full Answer
The Power of Attorney is able to do anything which is authorized in the document. If there is language in the POA which allows the transfer of real property, the power of attorney is able to transfer the property to himself. If father is still able to sign documents, it may be wiser for him to sign the quit claim deed.
Issue a court order that transfers the property, which takes the place of a quit claim deed. Which method is used by the court will depend upon the law and common practice of the courts in your state. Although the specifics vary from state to state, some type of court document will need to be filed to bring the matter back before the judge.
Only accept a quitclaim deed from grantors you know and trust. Because quitclaim deeds make no warranty about the quality of the grantor's title, they are generally used for low-risk transactions between people who know each other, and typically involve no exchange of money.
Quit claim deeds are used when the grantee is certain of the grantor's ownership, such as in the case of a divorce. [ Please note: The proper term is quit claim deed; not quick claim deed.] Part of a divorce judgment is the division of property between the spouses.
In which of the following situations could a quitclaim deed NOT be used? c. The answer is to warrant that a title is valid.
As a general rule, a power of attorney cannot transfer money, personal property, real estate or any other assets from the grantee to himself.
How to Transfer Texas Real EstateFind the most recent deed to the property. It is best to begin with a copy of the most recent deed to the property (the deed that transferred the property to the current grantor). ... Create a new deed. ... Sign and notarize the deed. ... File the documents in the county land records.
Power of attorney holder can register the property in his own name, if the power of attorney is registered and POA expressly permits the holder to execute sale deed in favour of any person on behalf of the owner.
Conclusion. To summarise, a power of attorney is not an instrument of transfer in regard to any right, title, or interest in immovable property; however, any genuine transaction carried out through a general power of attorney is considered valid under the law.
Rates vary by state and law office but typically fall in the range of $200 to $400 per hour. Title companies routinely prepare quitclaim deeds in many states. Fees for title companies vary, but a market scan shows an average of $100 to $200 for a simple quitclaim deed.
all property deeds – $195 Any Property Deed needed to transfer real estate in Texas. Prepared by an attorney licensed in the state of Texas.
In fact, any document that must be filed in the deed records is required to be notarized. Earlier this year, Texas House Bill 1683 went into effect and required the Texas Secretary of State to assign a notary identification number for all notaries and required notaries' seals to include that number.
The vesting paragraph is the portion of the deed that contains the language that transfers the real estate from the current owner (grantor) to the...
The signature line is the place where the grantor signs the deed. It usually includes a blank line for the handwritten signature, with the name of...
The last place that the grantor’s name appears is in the notary acknowledgment. The acknowledgment is the place where a notary public certifies tha...
Even though a power of attorney can be used to convey real estate, title insurance companies are not required to accept the power of attorney. If t...
Ernest Hemingway. But remember that the grantor—Ernest Hemingway in this example—will not be the one signing the deed. Instead, the deed will be signed by the agent under the power of attorney. There are two ways for an agent to sign a deed or other document under a power of attorney.
When a deed is signed using a power of attorney, the grantor (and not the agent) is usually listed as the signor in the printed text beneath the signature line . If Ernest Hemingway is the grantor, the signature line would look like this:
The vesting paragraph is the portion of the deed that contains the language that transfers the real estate from the current owner ( grantor) to the new owner ( grantee ). Given that the agent under the power of attorney will sign the deed, who should be listed in the vesting paragraph? Should the vesting paragraph list the grantor even though the grantor will not be signing the deed? Or should the vesting paragraph list the agent even though the agent is not the current owner?
When property is conveyed using a power of attorney, the notary block should reference the agent, even though the principal/grantor is listed in the vesting paragraph and on the printed portion of the signature line.
Many title examiners will want proof that there is a valid power of attorney naming the agent to act on behalf of the principal. They will also want to see language in the power of attorney that gives the agent authority to transfer the principal’s real estate. The best way to reassure the title examiner is to attach the power ...
A power of attorney is a legal document that authorizes one person, called an agent, to act on behalf of another person, called a principal . The agent owes a fiduciary duty to the principal. This means that the agent can only take actions for benefit the principal and should generally refrain from actions that benefit the agent personally.
If the title insurance company refuses to insure title to property previously conveyed by power of attorney, there could be a cloud on title that affects the property value. There are a few steps you can take to help ensure that title companies are comfortable with property conveyed by power of attorney.
Because quitclaim deeds expose the grantee to certain risks, they are most often used between family members and where there is no exchange of money. Due to this, quitclaim deeds typically are not used in situations where the property involved has an outstanding mortgage.
Quitclaim deeds are most often for transferring property between family members or to cure a defect on the title, such as a misspelling of a name. Although they are relatively common and most real estate agents have experience dealing with them, they are generally used in transactions where the parties know each other and are therefore more likely ...
Deeds are also categorized based on the type of title warranty provided by the grantor . General warranty deeds provide the highest level of buyer protection, while quitclaim deeds typically provide the least.
Because quitclaim deeds make no warranty about the quality of the grantor's title , they are best for low-risk transactions between people who know each other and typically involve no exchange of money. Quitclaim deeds, therefore, are commonly used to transfer property within a family, such as from a parent to an adult child, between siblings, or when a property owner gets married and wants to add their spouse to the title.
A property deed is a written and signed legal instrument that is used to transfer ownership of real property from a previous owner (the grantor) to a new owner (the grantee). Broadly, deeds are either official or private.
Of course today, title to real property is conveyed by a deed. A property deed is a written and signed legal instrument that is used to transfer ownership of real property from a previous owner (the grantor) to a new owner (the grantee). Deeds can be classified in numerous ways.
The transfer of an owner’s title is made by deed. Certain essential elements must be contained in the deed for it to be legally operative. Different deeds provide various levels of protection to the grantee, and the form of the deed determines the obligations of a grantor.
A quitclaim deed is sometimes used to avoid probate court by transferring an interest in real property before someone's death. The property is transferred by deed during their life, instead of being transferred by a will after the grantor's death.
It is most commonly used when ownership rights in a property are transferred among family members. In a divorce, a quitclaim deed is a way to transfer ownership in property between divorcing spouses. For example, the spouses owned the marital home together.
When a home is sold, a warranty deed is the document generally used to transfer the property. A warranty deed contains a guarantee from the seller to the buyer that the seller owns the property outright, free of encumbrances, and has the right to transfer full and clear title to the buyer. Should there be any problem with ...
It's usually a very straightforward transaction, but it's possible for a quitclaim deed to be challenged. If a quitclaim deed is challenged in court, the issue becomes whether the property was legally transferred and if the grantor had the legal right to transfer the property.
A challenger could claim that the grantor didn't actually sign the deed or that it was forged. Once a quitclaim deed has been recorded in the county clerk's office, it becomes more difficult to challenge, since the transfer has already occurred. The person challenging the deed has the burden of proving it was falsified or not legally executed.
You should be consulting with a local attorney in the area. They will have questions for you to give you the best advise in your case Steven A Heisler 800 466 0000...
You obviously have many, many questions regarding what is going on in your father's estate and what has been done. There is also much at risk for you. You definitely need to consult with an attorney to determine whether you may have any standing to try to fight your sister, and what it would be worth to you vs. the costs of fighting her.
I agree with my colleagues. I would simply add that, even if the POA form authorized the agent to sign real estate documents, I believe that under the limited facts presented, you may have a claim for breach of fiduciary duty, on the basis of self-dealing.
If the POA granted the authority to sign deeds or to otherwise convey real or personal property, the conveyance by your sister is valid. POA's can grant unlimited authority to persons unless the language of the POA somehow restricts the right to convey.
I am not a MI attorney, laws vary from state to state, therefore you should always consult a local attorney. A deed can be completed under power of attorney if the POA grants that power AND the transfer was made at the request of the grantor.
To set aside the deed you would need to have proof that the deed was beyond the power granted in the POA, or that the POA was invalid for some reason. If the POA was valid, the deed is valid. Technical requirements for a POA vary by state. You would need to get a copy of the POA and have an attorney review it.
He should also read up on what a durable power of attorney means; he can still make whatever decisions he wants to but if he is not in a physical position to sign something or make a decision, then you have the ability to act consistent with what he would want you to do.
If the DPOA gives you the authority to transfer property, it is technically legal. However, if you have siblings or he has a wife, etc., there will be a long hard look at the transaction. Why can't dad do it himself if he is competent. If he isn't competent, then his instructions don't really mean anything, do they?
Assuming the power of attorney for property that names you as agent grants you the authority to deal with the real property of the principal, your father, you have the power to deed the property to anyone, including yourself. The power of attorney would also have to be recorded to show that you did have the authority.
In general, it is not wise for a parent to give up their home to a child before death. There are numerous tax and other reasons. Your father should speak to a probate attorney before he takes steps that later will cost more money then if his estate is planned out well [e.g., the house takes a stepped up basis on his death if it is part of his estate; if there is a mortgage on the house, it becomes all due and owing on transfer of the property, etc.]. If he still wants you to have title to the house, he could set up a life tenancy so that he does not have to worry about what happens during his life time. He should also read up on what a durable power of attorney means; he can still make whatever decisions he wants to but if he is not in a physical position to sign something or make a decision, then you have the ability to act consistent with what he would want you to do. If there are any other potential heirs, they will suspect you acted improperly in preparing a quite claim deed for yourself.
No, as you are a fiduciary for the maker of the power and cannot self deal with reference to the assets of the maker of the power.. The only person to transfer the property you refer to is the owner.
it is legal if it is your father's wishes. but any other heirs may challenge it later. so its better for him to sign it and have it notarized. If you choose to do it have witnesses and written instructions by him to do it. Report Abuse. Report Abuse.
To answer your question, you can use a POA to transfer property, if the POA so allows. You have a fiduciary duty to the power grantor, so you would have to show that you are acting in the best interest of the power grantor. If the power grantor is still living, it's better to have him execute the deed and not you. If it's for Medicaid purposes, make sure you know about penalty transfers. And don't use a quitclaim.
If the judge decides undue influence was used to get another person to sign the quit claims deed, odds are the form will be revoked. If the judge decides no undue influence or other fraudulent attempts were made to get the other person to sign, the quit claim will remain on file as it currently stands.
In bankruptcy proceedings, the quit claim deed helps the banks that are owed money by a debtor so that they may legally put liens on a piece of property in order to get their money.
Your lawyer can help you to explore any options available to you and can help you prove the quit claim deed is invalid because you experienced undue influence that caused you to sign.
The signing and filing of such a form means the owner of property or real estate is giving up all ownership and financial obligation for such property. This form is typically filed during divorce and bankruptcy.
However, there are some cases in which the form can be revoked if it can be proven that you signed due to fraudulent causes. One of these just causes for revocation is undue influence. Undue influence is defined as taking unfair advantage of someone who is in distress, unable to make decisions or susceptible to coercion.