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Quit Claim Deed Process
Summary
A Living Trust is not required for a Quit Claim Deed. You can change ownership percentages directly in the deed. The Social Security Remainder Table is not necessary for Quit Claim Deeds or Living Trusts. As a 1% owner, you can remain on tax rolls and insurance. For a Life Estate, the table is used for tax calculations. Ensure the deed is notarized and recorded.Full Conversation
Yes
Sure, I'd be happy to help! What specific question or concern do you have about the Quit Claim Deed?
I have a Quit Claim Deed using A Social Security Remainder Table showing me as the Grantor and my daughter as Remainderman. I would like to cancel it make a Quit Claim Deed with my portion at *% and hers at *%. Is that possible and legal?
Yes, it's possible and legal to create a new Quit Claim Deed to change the ownership percentages. Here are the steps:
- Prepare a new Quit Claim Deed document.
- Specify the new ownership percentages (*% for you, *% for your daughter).
- Sign the new deed in the presence of a notary.
- Record the new deed with the county recorder's office where the property is located.
Would you like help finding the nearest county recorder's office?
- Prepare a new Quit Claim Deed document.
- Specify the new ownership percentages (*% for you, *% for your daughter).
- Sign the new deed in the presence of a notary.
- Record the new deed with the county recorder's office where the property is located.
Would you like help finding the nearest county recorder's office?
Yes
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You can find the nearest county recorder's office in New York by visiting the official website or contacting the New York City Register's Office. They can provide information on recording your new Quit Claim Deed.
Would you like to know more about the steps involved or need any further assistance with your Quit Claim Deed?
You can find the nearest county recorder's office in New York by visiting the official website or contacting the New York City Register's Office. They can provide information on recording your new Quit Claim Deed.
Would you like to know more about the steps involved or need any further assistance with your Quit Claim Deed?
Are you saying I do not need the Social Security Remainder Table to do the new Quit Claim Deed?
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No, you do not need the Social Security Remainder Table to create a new Quit Claim Deed. You can simply specify the new ownership percentages directly in the Quit Claim Deed document.
Do you need further assistance with the process?
No, you do not need the Social Security Remainder Table to create a new Quit Claim Deed. You can simply specify the new ownership percentages directly in the Quit Claim Deed document.
Do you need further assistance with the process?
If I was using a Living Trust with the Quit Claim Deed would I need to use the Social Security Remainder Table for the new Quit Claim Deed?
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No, you do not need to use the Social Security Remainder Table with a Living Trust when creating a new Quit Claim Deed. You can directly specify the ownership percentages in the Quit Claim Deed document.
Do you have any other questions or need further assistance with the process?
No, you do not need to use the Social Security Remainder Table with a Living Trust when creating a new Quit Claim Deed. You can directly specify the ownership percentages in the Quit Claim Deed document.
Do you have any other questions or need further assistance with the process?
Why would I use the Social Security Remainder Table for a Quit Claim Deed? Also, can I as *% owner keep my name on the tax rolls and insurance for the property?
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Here are some points to consider:
- Social Security Remainder Table: This table is generally not needed for Quit Claim Deeds. It is more relevant for calculating life estates and future interests for tax purposes.
- Keeping your name on tax rolls and insurance: Yes, as a *% owner, you can keep your name on the tax rolls and insurance. Ownership percentage does not typically affect this.
Would you like more detailed information on either of these points?
- Social Security Remainder Table: This table is generally not needed for Quit Claim Deeds. It is more relevant for calculating life estates and future interests for tax purposes.
- Keeping your name on tax rolls and insurance: Yes, as a *% owner, you can keep your name on the tax rolls and insurance. Ownership percentage does not typically affect this.
Would you like more detailed information on either of these points?
No, but thank you for your very valuable assistance!!!
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I'm glad I could help with your questions regarding the Quit Claim Deed and Living Trust. If you have any other legal inquiries in the future, feel free to reach out. Have a great day!
I'm glad I could help with your questions regarding the Quit Claim Deed and Living Trust. If you have any other legal inquiries in the future, feel free to reach out. Have a great day!
Am I obligated to use a Social Security Remainder Table when making a Life Estate with a Quit Claim Deed?
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You are not obligated to use a Social Security Remainder Table when creating a Life Estate with a Quit Claim Deed. The table is more commonly used for calculating life estates and future interests for tax purposes.
If you have any other specific questions about the process, feel free to ask!
You are not obligated to use a Social Security Remainder Table when creating a Life Estate with a Quit Claim Deed. The table is more commonly used for calculating life estates and future interests for tax purposes.
If you have any other specific questions about the process, feel free to ask!
How do those tax purposes work?
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The Social Security Remainder Table is typically used in tax calculations for life estates and future interests. It helps determine the present value of life estates for tax purposes, such as gift tax or estate tax.
Would you like more information on how these tax calculations work?
The Social Security Remainder Table is typically used in tax calculations for life estates and future interests. It helps determine the present value of life estates for tax purposes, such as gift tax or estate tax.
Would you like more information on how these tax calculations work?
When making a Quit Claim Deed, are there extra forms or processes I need to have to ensure my ability to remain in the home if I am the Grantor, my daughter is *% owner and I am *% owner on the new Quit Claim Deed. I am staying on the deed in order to still be responsible for the real estate taxes and home insurance.
Case Rating: *
As a Grantor who retains *% ownership of the property, you don't need extra forms to ensure you can remain in the home if the Quit Claim Deed states the ownership percentages clearly. Here are some points to consider:
- Ensure the new Quit Claim Deed is correctly filled out and notarized.
- Record the deed with the county recorder's office.
- Confirm with your tax authority and insurance provider that your name remains on the records.
Would you like more details on any of these steps?
As a Grantor who retains *% ownership of the property, you don't need extra forms to ensure you can remain in the home if the Quit Claim Deed states the ownership percentages clearly. Here are some points to consider:
- Ensure the new Quit Claim Deed is correctly filled out and notarized.
- Record the deed with the county recorder's office.
- Confirm with your tax authority and insurance provider that your name remains on the records.
Would you like more details on any of these steps?
No, than you.
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You're welcome! If you have any more questions in the future, feel free to ask. Have a great day!
You're welcome! If you have any more questions in the future, feel free to ask. Have a great day!
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