Alter Age Deed For Free

The only way to add or remove a name on a deed is to have a new deed recorded. Once a document is recorded, it cannot be altered. In order to protect your legal interests, we strongly suggest that you contact an attorney to have this done for you.

Your parents can put your name on the deed to their house. Many people might see this as a simple method of estate planning. However, it may be a bad idea.

If your child's name is on the deed at the time of your death, the house will not go through probate. Before you sign over your property, though, it's important to consider the risks involved.

Any changes are taken to have been stated by the deceased and so do not affect the tax position of the person giving up their share of the estate. A Deed of Variation is a powerful way to save substantial sums in tax.

However, by making what is known as a Deed of Variation, the law allows the gift to be treated as if it was made by the deceased person directly from his rather than the intended recipient's estate. To qualify for the favourable tax treatment that may result from the changed inheritance, a Deed of Variation is needed.

A deed of variation allows you, as a beneficiary of a deceased person's estate, to redirect some or all of your interest in that estate to others. The benefit is that it is as if the deceased made the gift, not the beneficiary.

A deed of variation can have unwelcome side effects - particularly where property is owned by different generations. Plus, if either party is divorced or has been or likely to be made bankrupt, then there could be other considerations or complications.

A 'no oral modification' or 'no oral variation' clause requires that parties may only modify a contract in writing and often requires any written modification be signed by all parties. In other words, the contract cannot be verbally modified.

You can arrange to legally transfer the deed to your house to your children before you die. To do so, you sign a deed transfer and record it with the county recorder's office. There are a few types of deeds that accomplish this in California, including a quitclaim deed, grant deed and transfer on death deed.

There is a rule of equity that a deed can be amended by a 'simple' contract provided that there is consideration. Any variation to an existing contract must either be supported by consideration or be executed as a deed.