Dad deeded 1/2 of the house to his wife who has dementia.

[Chelle Knijnenburg]

Ok I wrote about his before and have since learned that my father legally owns the mortgage, but does not own the house he is paying for.  How does this get reversed?

Background, My father and brother each own half of a house in Florida that they bought in the 90's. Around 10 years ago, my father thought he was splitting his half with his wife and says he accidentally deeded over his half ownership entirely to his second wife and step daughters.  This is truly a lesson in don't sign anything you don't understand!!!!

His agreement with my brother, Ed, was that Edward would get the house when my dad passed.  Regarding his wife's mental state at this time -- My sister, a nurse with a Masters Degree, talked to her doctor and they concluded she (Dad's wife) has either Alzheimers or dementia.  Officially, he has not put this diagnosis on paper but has written that she "needs help making cognitive decisions, etc.".

The lawyer who did the paperwork died and my dad has no record of the notes and the original agreement. 

I am seeking a title company in the area (Fort Myers, Estero, Naples). What else can I direct him to do?

[Ralph R.]

Chelle Knijnenburg There could be another nightmare here. I am assuming here so I could be way off base. If your father and brother had a conventional or FHA loan most all of them have a due on sale clause. Your father may have tripped that due on sale clause when he changed the tittle to the property by signing off on the banks collateral. If that is the case than the lien holder could accelerate the note and call the loan due immediately. This could be done at anytime. I dunno how those cards would fall. The other catastrophe that could happen is if they fell behind in the payments. Do the wife's children want the house? If they are willing to sign a quit claim deed maybe they would sign a first right of refusal with your brother. That document says that if the wife's children ever decide to sell their half of the house your brother has the first right to buy. I believe you can even put an amount in there. If you put a couple hundred dollars in there it might protect his interest. Get a lawyer for this tho because that document could say at fair market price as well. Then he would have to pay full price for their half. RR