Property Deed Statement
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Property Deed Statement
My mother is leaving her home to me after she passes away. However, the deed will have my name and my stepfather’s name on it. She wants him to have the ability to live in the home as long as he chooses and pay for property taxes while he resides there. If he chooses to move or leave for any reason or if he passes away she wants the house to become mine. Since both of our names are on the deed, do I need to include a statement with these stipulations? If so, what does it need to include Ultimately, I’m am trying to ensure the home does not go to his kids if he were to die. Also, that he is only able to live there, not rent the house out.
Asked on March 11, 2018 under Estate Planning, New Mexico
M.T.G., Member, New York Bar / FreeAdvice Contributing Attorney
Answered 3 years ago | Contributor
You are doing some estate planning and that is great! But you need help from an attorney in your area. Generally if one wishes to give someone the ability to stay on in the house for the remainder of their lives the deed will give that persona "life estate" with you as the "remainderman". As the holder of a life estate he has the obligation to maintain and upkeep the house but he may have other rights under the law in your state. You wish to limit those rights so putting his name on the deed in any way may not be the way to go. Please seek help. Good luck.
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