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Rich Riddle
02-11-2017, 1:50 AM
I have an elderly relative who wants to relinquish a couple small plots of land inside Ohio. The deed is titled in her name as well as her deceased husband's name. She wants to transfer the land to a younger family member. Does she really need to utilize an attorney and/or title company for small plots of vacant land? If not, does she just go to the courthouse/assessor to change ownership? The attorney/title fees would likely cost more than the lot. Thanks.

George Bokros
02-11-2017, 7:29 AM
Someone will need to draw up the deed so likely an attorney will be needed. A new deed should have been drawn deeding the property solely to her when her husband passed and his estate was settled. I am not an attorney nor a real estate professional but have dealt with selling property out of an estate when my mom passed, my dad passed and when we dealt with real estate in my mother in law's situation of re-deeding the property when we were dealing with my father in law in a nursing home.

Mike Berrevoets
02-11-2017, 7:32 AM
Research a quit claim deed. i think that is the easiest, fastest, cheapest way to transfer property.

George Bokros
02-11-2017, 7:41 AM
Never thought of a quit claim deed.

Rich Riddle
02-11-2017, 9:28 AM
I will look up quit claim deed. Thank you.

Jim Koepke
02-11-2017, 11:08 AM
When my father transferred property to my brothers and me, he in effect 'sold' the properties to us and carried the loan. The loan was not a collateralized loan. In other words, it was for the property amount, but not connected to the property. Then once a year he would gift us the amount due by the amount that could be transferred without tax consequences.

This way the property was transferred with the help of a real estate person. Each state is different, some have realtors others use attorneys and some will let you file with the city/county department of records.

If the properties are of any value, the tax man will want their share and if it isn't done to their liking, there will be taxes and possibly penalties.

The cost of a little time spent with a professional to get this done properly may save a lot of headaches in the long term.

jtk

Ole Anderson
02-11-2017, 1:02 PM
A quit claim deed is better than nothing, but a warranty deed is much better. I could give you a quit claim deed to the Brooklyn Bridge, stating I give up all rights to that bridge, without actually proving I own it. Using a title company would be my method of transfer, that is what they do. No need for an attorney.

Ed Aumiller
02-12-2017, 8:25 PM
She can place the land in a simple trust in which she is the sole trustee... There is normally only a filing fee and no taxes since she is simply changing the way she owns it..
Then she can simply change the name of the trustee to whoever she wants to... still no taxes..

Put all of our property in trusts years and years ago... when we croak our kids become the trustees and it does not even go to probate... but they now control the land, etc to do whatever they like.

Curt Harms
02-13-2017, 8:10 PM
States do vary. Perhaps someone at the county courthouse office that handles real estate transactions could at least get you pointed in the right direction.

Rich Riddle
02-13-2017, 8:39 PM
Thanks for the input. She called her attorney who took care of transferring the house to her name before her husband passed. He apologized for not taking care of the vacant lots before her husband's death and said he would take care of the paperwork this week. It sounds as though he's going to do it the way Ed indicated.