He can do a transfer on death and that bypasses probate.
You will have to speak with the lender, because your BIL doesn't actually own the house until it's paid for in full.
This is not a DIY project. You guys need a really good certified elder law attorney, www.nelf.org is where you will find one.
There is a whole lot going on in your situation and you want to do this right or it could be a mess. Because doing it wrong could cost your brother public assistance.
Judy, there isn't enough information to evaluate and/or respond to your question.
As MJ1929 states, you'll need an attorney's advice. These are some questions you should be prepared to address:
1. Who holds title to the house, and pursuant to what (i.e., a Warranty Deed, or a Quit Claim Deed)?
2. Who is/are the mortgagor(s), i.e., who signed the mortgage and is legally obligated to make payments? Is the mortgage in good standing, or is it in default?
3. Who dies and is subject to Probate? Is this something your brother wants to do to avoid Probate when he passes?
4. Does he have a Will? If so, does it list this other family member as an heir?
5. Has retitling the property to make the other family member a joint holder and full owner when your brother passes, been considered?
Your profile states:
"MY BROTHER AGED 60 IS UNDERGOING MENTAL CHANGES. Decisions need to be made-- need help."
What mental changes, and to what degree? Is he still capable of understanding his choices, especially if he were to convey title to himself and his brother jointly, for the purpose of passing the property directly to his brother outside of Probate Court?
All these questions would need to be answered before anyone could answer your question.
I expect he "can," but the attorney will be especially valuable in determining if he "should."
If he can't afford the lawyer consult, he certainly can't afford to make such a large gift.
He can look for free lawyer consultations through local organizations like senior centers, universities, or libraries. Maybe read one or two NOLO Press books from the library on avoiding probate or preparing a living trust first, so he gets the most out of the lawyer visit.
3 Answers
Helpful Newest
First Oldest
First
You will have to speak with the lender, because your BIL doesn't actually own the house until it's paid for in full.
This is not a DIY project. You guys need a really good certified elder law attorney, www.nelf.org is where you will find one.
There is a whole lot going on in your situation and you want to do this right or it could be a mess. Because doing it wrong could cost your brother public assistance.
As MJ1929 states, you'll need an attorney's advice. These are some questions you should be prepared to address:
1. Who holds title to the house, and pursuant to what (i.e., a Warranty Deed, or a Quit Claim Deed)?
2. Who is/are the mortgagor(s), i.e., who signed the mortgage and is legally obligated to make payments? Is the mortgage in good standing, or is it in default?
3. Who dies and is subject to Probate? Is this something your brother wants to do to avoid Probate when he passes?
4. Does he have a Will? If so, does it list this other family member as an heir?
5. Has retitling the property to make the other family member a joint holder and full owner when your brother passes, been considered?
Your profile states:
"MY BROTHER AGED 60 IS UNDERGOING MENTAL CHANGES. Decisions need to be made-- need help."
What mental changes, and to what degree? Is he still capable of understanding his choices, especially if he were to convey title to himself and his brother jointly, for the purpose of passing the property directly to his brother outside of Probate Court?
All these questions would need to be answered before anyone could answer your question.
ADVERTISEMENT
If he can't afford the lawyer consult, he certainly can't afford to make such a large gift.
He can look for free lawyer consultations through local organizations like senior centers, universities, or libraries. Maybe read one or two NOLO Press books from the library on avoiding probate or preparing a living trust first, so he gets the most out of the lawyer visit.