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Reply #25: $10 and other lawful consideration. [View All]

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flvegan Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-14-05 04:58 PM
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25. $10 and other lawful consideration.
This is common here (Florida) so as to pay minimal doc stamps.

She could simply execute a Quit Claim Deed giving you her interest in the property without any guarantee of title or marketability of same.

I don't know what state you live in, but here, there's no need for a closing, inspection, etc. Additionally, the tax issue...well, isn't (again, in Florida). If you're that worried about it, she could retain a Life Estate in the property, or she could deed it to you AND herself as Joint Tenants with rights of survivorship.

Without addtl. knowledge, you could seek counsel, but your local Title Company can help (though they probably will put a disclaimer on your deed stating that it was prepared without benefit of an exam).
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