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<DIV style="FONT-SIZE: 12pt; FONT-FAMILY: 'Calibri'; COLOR: #000000">
<DIV>Why can’t you just get gift deeds from the heirs with a affid. to clear
title?</DIV>
<DIV> </DIV>
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<DIV> </DIV>
<DIV style="BACKGROUND: #f5f5f5">
<DIV style="font-color: black"><B>From:</B> <A title=pneumiller@hotmail.com
href="mailto:pneumiller@hotmail.com">Paul Neumiller</A> </DIV>
<DIV><B>Sent:</B> Thursday, August 27, 2015 12:47 PM</DIV>
<DIV><B>To:</B> <A title=wsbarp@lists.wsbarppt.com
href="mailto:wsbarp@lists.wsbarppt.com">wsbarp@lists.wsbarppt.com</A> </DIV>
<DIV><B>Subject:</B> [WSBARP] Deceased Co-signing Mom on Title</DIV></DIV></DIV>
<DIV> </DIV></DIV>
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<P class=MsoNormal>Listmates, I need input and guidance in a situation.
About 20 years ago, Son puts Mom on title solely so Mom can co-sign on refinance
of residence. Mom never contributed towards residence (i.e. no taxes,
maintenance, or loan payments) In fact, Mom never lived in WA. Mom
dies in CO and her estate is probated in CO. Mom’s Will is silent as to
disposition of the residence, probably because no one realized it. Son tries to
sell residence and title company says problem with title because Mom is still on
title. For various reasons, title company and Son does not want an
Affidavit of Lack of Probate. OK……<o:p></o:p></P>
<P class=MsoListParagraph
style="TEXT-INDENT: -0.25in; mso-list: l0 level1 lfo1"><SPAN
style="mso-list: ignore">1.<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN>I could bring a “friendly” quiet title action and name all of
Mom’s heirs. Son tells me that all heirs (Son’s siblings) will either not
answer or will sign a Stipulation because they all understand the situation and
don’t want an interest in Son’s residence. However, because siblings are
out of state, they have 60 days to answer (or not answer as the case may
be). (Trying to avoid the heirs giving quitclaim deeds to Son because, I
am told (by the title company) that will incur double excise taxes (once for
quitclaim deeds and once to transfer to buyer of residence). OR<o:p></o:p></P>
<P class=MsoListParagraph
style="TEXT-INDENT: -0.25in; mso-list: l0 level1 lfo1"><SPAN
style="mso-list: ignore">2.<SPAN
style='FONT: 7pt "Times New Roman"'>
</SPAN></SPAN>I could open a probate in WA. Mom never lived here and she
died over two years ago. Mom’s Will gives the residual of Mom’s estate “to
those of my children who survive me <U>per capita</U>, or if none of my children
shall survive me, then to my grandchildren…”. I could have each sibling
sign Disclaimers, in effect, leaving the sole asset to be disposed in WA (that
is, the residence) to Son. Son then transfers the residence to Son by PR
deed (getting the inheritance exclusion to the excise tax) and then close up
probate quickly. Another factor that <I>may</I> be relevant is that even
if the disclaimers are considered “gifts,” the equity of each disclaimer (i.e.
FMV of residence minus loan balance) is less than $14K. (As a side
question because it came up, is a disclaimer a “gift?”)<o:p></o:p></P>
<P class=MsoNormal style="MARGIN-LEFT: 0.25in"><o:p></o:p> </P>
<P class=MsoNormal style="MARGIN-LEFT: 0.25in">OK, I am leaning towards the
probate route. Any thoughts or missed issues? <o:p></o:p></P></DIV>
<P>
<HR>
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