Guest: 00:01 Ah, I’ve got a question for you.
Brian: 00:02 Okay.
Guest: 00:03 I had purchased a property, a home for my son and I was underneath the impression that it was going, the home was gonna go strictly into my son’s name. Well, Evidently it didn’t, it was in his name, but they also had me and my a recently passed wife’s name attached to the property.
Brian: 00:21 When you say, when you say attached to the property, you mean your names are on the deed or the mortgage?
Guest: 00:27 No. The deed.
Brian: 00:29 Okay. What’s the problem with that?
Guest: 00:31 Well, I’m getting older. Okay. Okay. My wife just passed away.
Brian: 00:35 I’m so sorry.
Guest: 00:36 And I want to make sure that, you know, if I end up and you know, or pass away that you know, I’m in a medical facility that they can’t come and attach,you know, our go after that home
Brian: 00:48 There’s an easy way to do that. Chances are the deed was written to you, your son and your wife as joint tenants with full rights of survivorship. All you’ve got to do is just quick claim your side of it to your son and then that’ll be done. The only problem you got is that the Medicare, Medicaid could still do that five year look back if you end up in a medical facility. So my advice to you is get to an attorney immediately so that they can take a look at the deed and figure out what needs to be done. I don’t, Justin, you do a lot of real estate, don’t you?
Justin: 01:17 Yeah, this is, it’s really easy to take about a five minutes, take a look at it and we can figure it out. Get a new one drafted up and I should be good to go. But that’s exactly what you wanna do, quick claim it back to him. Obviously you want to realize you’re giving up any rights that you have to that property. So we don’t want to have you call back in a couple of years saying that you know, you want it to be on that deed. So as long as you know that you’re giving up everything with that property, quick claim deed is the easiest way to get rid of it.