Verified answer

I would look into quitclaim deed.

If the person doesn't want to transfer, then you have the option to stop paying the taxes.

I don't think I would be trying to get a quit claim deed to place my name on the property. There are other ways of doing it, especially if the elder person is some what reluctant.

You might get them to sign a revocable living trust. They will be able to stay in the property and control it for as long as they are mentally capable or is no longer here. If they become incapable of running their affairs who ever they made the trustee would step in and make all decisions on their behalf.

They could name you as the trustee of the trust and giving you everything and anything they wanted to include the house. This would also keep the house out of probate and simply pass it on to whomever they designate in the trust.

You should contact an estate planner or an attorney that specialize in living trust.

You can continue to pay the taxes for as long as you want under any arrangement.

I hope this has been of some use to you, good luck.

"FIGHT ON"

Personally, from what I have heard I would NOT transfer title to the property while the owners are still living.

Most likely you will have to pay taxes on that property as if it were a gift. It just gets all messed up.

Continue to pay the taxes if you wish, but have them leave the house to you as inheritance (trust) and not give it to you now.

good question but it is a legal one. and "legality" changes according to the jurisdiction you are in. number one -- try to get a power of attorney re. the status of the property -- which means that if anything happens to the elderly person you have the right of decision. careful -- the power of attorney stop, the moment the elderly person passes away. the transfer of property could be done via a notary. you have to convince the elderly person --if he/she is of sound mind to effect the paper work -- so that you pay the property taxes and he/she enjoys living....with no possible

retraction of the party by creditors. it takes a good explanation and give and take from both parties plus of course "trust". good luck.

Quitclaim deeds are the fastest, they really carry no warranty though and you may have issues down the road with title insurance. Go on Google or buy the book below to get a quitclaim deed example and then send it to your county recorder.