Welcome to the Legal Forums! Please Register For Free Now!
At the Legal Forums members stay up to date on what is legal, new laws and state laws. Legal Forum members can read about legal definitions, weird laws, legal rights, legal services and law answers.
The Legal Forums have over 30,000+ Legal Forum members and 35,000+ Legal Forum posts! Please register on the Legal Forums for free today! Registration will give you full access to the Legal Forums and takes just a moment to complete. We welcome you to our Legal Forum community! Please Join Us Right Now!
Hi! This is a long story that I'm going to try to condense....for years, my grandma talked about transferring the house that my mom and brother live in (on my grandparents' land) and several acres of land into my mom's name so that if my grandma or my grandpa went into a nursing home, the nursing home couldn't take the house away because of debts (also to protect it from future hospital bills, etc). So a couple of years ago, my grandma told my mom to have the land surveyed, and she'd sign it over, The surveying was done, but my grandma started going wonky in the head and refused to sign it for some mysterious reason. I think it was some temporary paranoia and she'd sign it now, and my grandpa definitely would, but the thing is...the cousin heard from a real estate lawyer that once the transfer is filed, it's not really final for 3 years, so during those 3 years, it would still be subject to debt collection. Right now, my grandma is becoming so incoherent and so prone to falling that it won't be long before the family puts her in a nursing home.
So what I'd like to know is if it's possible for my mom to buy the house and land for the lowest nominal fee legal in Oklahoma, so it would immediately be hers. How would taxes be for that? Would the taxes be less if it was sold to my brother (since he's of direct lineage and my mom isn't)--I don't know if direct lineage makes any difference in Oklahoma. Would a real estate lawyer be the appropriate lawyer for my mom to go to?
There are currently 1 users browsing this thread. (0 members and 1 guests)