Deeds, Estates, and Trustees

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Guest: 00:00 So, I am a trustee of my mother’s a state and passed away and which has a house, and we’re going to be selling it to my sister. Okay. so my question is can I just use like a quick claim deed for that or is there a special other deed I need to use?

Mark: 00:22 Well, it depends. You’re probably gonna want to tell it. Your sister’s probably into one title insurance, so they may, if you’re going to go do it through a title company, they’re going to probably tell you what to do.

Justin: 00:34 They’ll probably draft the deed for you. She knows she’s going to get title insurance? Right?

Guest: 00:38 That, I don’t know. I mean it’d be that the house is free and clear.

Mark: 00:43 Yeah. You still want title insurance generally because if she ever goes to sell it, she’s going to want it to show that she had title insurance.

Justin: 00:52 So it might not be a bad idea. If you wanted me to give you a, a title insurance company, give me a call on Monday. We can hook you up with someone who can definitely help you out there.

Mark: 01:00 Not that expensive either. Like having a title insurance, it’s a lot different than, you know, paying a bunch of commissions. It’s really not that bad to have a company do it. Then you’re not responsible for any of this

Justin: 01:10 They’ll do the deed for you and walk you through the whole process.

Guest: 01:14 Okay. Okay. Did like a a warranty deed or

Justin: 01:17 Let’s see, you want some, a deed, whether it’s warranty or Covenant deed, I’m not sure what they’ll be able to give you, but either one, it’s better in a quick claim deed, right, mark?

Mark: 01:24 Yeah. Exactly.

Justin: 01:25 And especially when you go to sell it to someone else and you have a, you know, a higher priority lien

Mark: 01:31 More protection, right?

Justin: 01:32 Protection. If you ever tried to sell it.