Invalid topic.
| Posted By |
Message |
GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
Name:
|
Has anyone had siblings waive their rights to the house?
We are trying to purchase my parents' house. We wanted to get something drawn up saying that after x amount of years, my siblings have no rights to the profits from the sale of the house, or to the house itself. Has anyone done something like this? Any idea what its called.
I was actually looking to see if I could do it myself on one of those websites, to save money, but haven't found anything that fits.
TIA!
|
Posted 1/25/10 2:58 PM  |
| |
|
Prudential Douglas Elliman Real Estate
Long Island's Largest Bridal Resource | Long Island Weddings |
Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
|
Re: Has anyone had siblings waive their rights to the house?
Do any of your siblings have power of attorney right now? Once the house is in your name, your siblings have no right to it.
|
| Posted 1/25/10 3:14 PM |
| |
|
GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
Name:
|
Re: Has anyone had siblings waive their rights to the house?
Posted by Mici C
Do any of your siblings have power of attorney right now? Once the house is in your name, your siblings have no right to it.
Only our names will be on it. This was my parents' ONE condition on selling us the house - that we would take care of this legally so there are no problems later on. . .
|
| Posted 1/25/10 3:15 PM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: Has anyone had siblings waive their rights to the house?
Get an estate attorney to handle this. Too many variables that can cause issues down the road.
|
| Posted 1/25/10 3:16 PM |
| |
|
Cheeks24
Living a dream
Member since 1/08 8589 total posts
Name:
Cheeks
|
Re: Has anyone had siblings waive their rights to the house?
Posted by Tilde
Posted by Mici C
Do any of your siblings have power of attorney right now? Once the house is in your name, your siblings have no right to it.
Only our names will be on it. This was my parents' ONE condition on selling us the house - that we would take care of this legally so there are no problems later on. . .
If you are buying the house from your parents (I'm assuming based on previous posts) then you will be making the mortgage payments and everything will be in your name so your siblings have no right to the house period. It's your house then. As the other poster mentioned, I would talk to an estate attorney about this.
|
| Posted 1/25/10 3:19 PM |
| |
|
Pray4Baby2010
<3 Cutest Giants Fan
Member since 10/09 5796 total posts
Name:
MB
|
Re: Has anyone had siblings waive their rights to the house?
Tilde- I have an excellent real estate attorney that we used for our closing- she was really reasonable.
I think with family-its easier to do everything by the book so that everyone is aware of what they are signing and there are no questions later on.
|
| Posted 1/25/10 3:20 PM |
| |
|
ave1024
I Took The Wrong Road
Member since 12/07 6153 total posts
Name:
That Led To The Wrong Tendencies
|
Re: Has anyone had siblings waive their rights to the house?
Hmmm if you are buying the house from your parents, you can probably just proceed with the sale as normal.
The above poster is right, once you buy the house from your parents your siblings have no rights to the house.
Your RE attorney could probably handle this and answer these questions.
|
| Posted 1/25/10 3:22 PM |
| |
|
GioiaMia
Let's Go Rangers!
Member since 1/07 14818 total posts
Name:
|
Re: Has anyone had siblings waive their rights to the house?
Thanks ladies, I know it sounds redundant to do this but I just want to make sure that we have no problems later on. 
|
| Posted 1/25/10 3:26 PM |
| |
|
Ophelia
she's baaccckkkk ;)
Member since 5/06 23378 total posts
Name:
remember, when Gulliver traveled....
|
Re: Has anyone had siblings waive their rights to the house?
Posted by Tilde
Thanks ladies, I know it sounds redundant to do this but I just want to make sure that we have no problems later on.
if you parents LEFT you the house in a will, it could be contested.
but your are purchasing it from them.
both your parents and your siblings lose any rights on the house LEGALLY.
what they can accomplish with sibling guilt is another. 
it's the same as purchasing a house from anyone. the previous owners of my house and her offspring have no recourse on my house, it's the same for yours.
|
| Posted 1/25/10 3:30 PM |
| |
|
Beth
The Key to your new home....
Member since 2/06 24849 total posts
Name:
Beth
|
Re: Has anyone had siblings waive their rights to the house?
I sent you a FM
|
| Posted 1/25/10 3:46 PM |
| |
|
Deeluvsvinny
DONE
Member since 10/08 4952 total posts
Name:
Whatever
|
Re: Has anyone had siblings waive their rights to the house?
Posted by Ophelia
Posted by Tilde
Thanks ladies, I know it sounds redundant to do this but I just want to make sure that we have no problems later on.
if you parents LEFT you the house in a will, it could be contested.
but your are purchasing it from them.
both your parents and your siblings lose any rights on the house LEGALLY.
what they can accomplish with sibling guilt is another.
it's the same as purchasing a house from anyone. the previous owners of my house and her offspring have no recourse on my house, it's the same for yours.
ITA. I worked for real estate attys for 10 years. Once you purchase the house, it's yours. Are you having an attorney handle the purchase? You should definitley have one.
|
| Posted 1/25/10 4:50 PM |
| |
|
