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Q: I inherited a condo in Naples, Florida with my parents. The property has a mortgage of $ 200 000 and is about half of the property. My parents had it with my uncle and his wife, who are still alive, so now I have to divide the costs, including mortgages, with my uncle.
I searched the deed and returned with a special warranty deed, which states that it is between my parents and my uncle as joint tenants with full rights of survivorship. Am I now responsible for paying part of my parents or is it the property now owned solely uncle?
A: There are two parts to your question. The first part is who owns the condominium. The second is who is responsible for the mortgage payments.
On the first question, you don't own the condominium. When people own property as joint tenants with rights of survivorship and one of the owners dies, the remaining owners automatically pick up ownership of the deceased person's share of the property.
If three people own property jointly with rights of survivorship and one dies, the other two become the sole owners. Of those two owners, when one of them dies, the last one still alive becomes the sole owner of the property.
In this case, you and your father's estate are not responsible for the ownership, repairs, taxes or other expenses related to the condominium, except the mortgage.
Presumably, your parents have signed personally for the mortgage on the property. As such, the estate of your parent is still responsible for this mortgage. Interestingly, however, because your parents do not make use of the condominium and the condominium is now the exclusive property of your uncle, and it may get the benefit of the condominium, you may be able to say that your uncle is responsible for the mortgage costs as well.
That's not a legal conclusion, as other factors may be involved for you. You should talk to an attorney on this issue.
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I searched the deed and it came back with a special warranty deed, which states that it is between my parents and my uncle as joint tenants with full rights of survivorship. Am I now responsible for paying my parents' share or does this property now
On September 10 of that year, the records show, Price received a warranty deed from White—a deed in which White swore he owned the land free and clear and was transferring ownership of it to Price, in exchange for $150000. With me so far?
There are a number of covenants contained in the warranty deed for this property. The property shall only be used for holding county fairs or other similar public purposes; must always be known as Albertus Park; and, in the event the premises cease to
Sumbry, a former notary, is charged with forging a warranty deed and lying about it under oath during a 2009 hearing in Russell County Circuit Court. His co-defendant, Ella Mae Sanders, 54, faces the same felony charges of forgery and perjury.
These warranties exist by operation of law and do not have to be specified in the deed of sale. 17 Warranty of Ownership The warranty of ownership assures the purchaser that : • the property is free of all rights, except those declared by the vendor;
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Warranty Deed | Get Free Legal Forms
Fill in warranty deed form. ... The Warranty Deed should be notarized and filed with the appropriate local registry of deeds. 1. Make multiple copies. ...
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Warranty deed - Wikipedia, the free encyclopedia
A general warranty deed is a type of deed where the grantor (seller) ... A General Warranty Deed includes six traditional forms of Covenants for Title. ...