Giving a house to another person in Texas - Posted by Sandy

import · August 16, 2007, 9:20pm

Posted by Rick, the Probate Guy on August 17, 2007 at 08:26:12:

…or transfer the property to a trust, for which Mom would have the beneficial interest (perhaps now, or upon his passing).

import · August 16, 2007, 9:20pm

Posted by Sandy on August 16, 2007 at 21:20:29:

I have a relative who bought a house in Texas for his mother. She makes the payments but the house is in his name. He worries what will happen to her in the event of his death. How would he go about giving her the house?

Sandy G

import · August 17, 2007, 6:06am

Re: Giving a house to another person in Texas - Posted by Jimmy

Posted by Jimmy on August 17, 2007 at 06:06:06:

several options:

if he deeds the house over to mom, the bank can call the loan.
he could prepare a will that leaves that specific asset to her.
or he could have the house transferred from his name to mom and him, as JTWROS. I don’t think this would trip the “due on,” and it would protect mom if he dies first. of course, it would put the house back into his ownership if she goes first. if that’s ok, go for it.