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Should Single People Buy a Home Without a Partner?
In talking with a woman in Kona last week, it made me ponder what people do with the title to their homes. This woman has been taking care of an elderly couple, and one of them died. The other might not be around for much longer, either. As payment for services this woman has rendered over the years, the couple told her they will give her their house after they die. It's been paid off. She asked the best way to go about doing this.
Well, I am not a lawer, but I do play one on TV. If I were in her shoes, I'd have the remaining spouse hire a lawyer to draw a trust and name her successor trustee, and then deed the house to the trust and record the deed. But so many people download forms from the internet, especially quitclaim deeds. When they fill them out in correctly, as many do, it messes up title.
Also, you know what else messes up title? When you are in a relationship and want to buy a home for yourself. Should you, as a single person, include your partner on title? You can read more in my personal blog today at this ... more
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