Would I need to probate or is a quit claim deed enough?

[LaVonne Eaton]

Covid may have made this issue more commonplace. My stepfather signed a (notarized) will and quitclaim deed to me in the hospital just weeks before he passed away. He didn't have a will before that time. It's taken a few weeks for me to recover from his death but it's now time to think about whether or not there is enough equity in the home for me to take on a probate.  It may be that I should let the house go back to the bank. He had no other children and no living relatives that might contest either of these documents. Would recording the deed avoid the hassle of probate? Is there a forum that has input from RE attorneys on BP? I was offered a minimal amount to record the deed and concurrently record a deed to another party. Which bills of my dads would I be liable for if I chose to do that? What kind of sales agreement should there be in that case? I have rentals but no experience with this scenario. I do not want a rental in his area. If you do have experience with a similar scenario then your suggestions would be greatly appreciated. Feel free to direct message me.  Thank you!

[Tom Gimer]

Generally speaking, if the deed is valid (you'll need to review the requirements for a valid deed in the jurisdiction where the property is located), and he was the sole owner, then since the deed was executed and delivered, equitable title has already transferred to you and the property should not be subject to probate. You could contract as the seller.

However... I think you need to do some work up front. Regarding the contract... you'll need to obtain the mortgage payoff and should have a title search undertaken on the property to determine what, if any, liens other than the mortgage attached to the property. If there is equity, contract accordingly and record the two deeds back to back. But if you determine that the property is way upside down, there is no sense in recording the deed... you'll just eventually end up with a foreclosure with you as the named defendant. Good luck.