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  1. #1
    Join Date
    Jul 2019
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    24

    Default How Should a Deed Be Worded

    My question involves real estate located in the State of: Indiana

    When we bought our property we were not married. Deed states Him, Me - Maiden Name, Tenants in Common. When we married, we never changed it. Our Wills are done in married names with leaving everything to the remaining spouse. 1_Someone told us that the Property Deed should be changed. Do we need to do this and if so, how do we state that the property should be left to whomever survives the other?

    2. I had property before we married and the deed is still in my maiden name. Should this be changed? 3. If I sell this property on a Land Contract, how should the deed be handled now and after the final payment is made? 4. What if I die before this land contract is paid off? I assume that my spouse will inherit based upon our Will (my will leaves it to him) and the Land Contract says it will carry on to my heirs to be paid. 5. Should this Land Contract be filed at the Courthouse?

    Thanks

  2. #2
    Join Date
    Mar 2013
    Posts
    17,221

    Default Re: How Should a Deed Be Worded

    Can't give specific "how to" legal advice but see comments below.

    Quote Quoting blady
    View Post

    When we bought our property we were not married. Deed states Him, Me - Maiden Name, Tenants in Common. When we married, we never changed it. Our Wills are done in married names with leaving everything to the remaining spouse. 1_Someone told us that the Property Deed should be changed. Do we need to do this and if so, how do we state that the property should be left to whomever survives the other?
    It's easy to convey ownership from the two of you as tenants in common to the two of you as joint tenants with right of survivorship. It does need to be changed because the interest of a tenant in common has to be probated. Joint tenancy does not. You should be able to find the deed format by googling.

    Quote Quoting blady
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    2. I had property before we married and the deed is still in my maiden name. Should this be changed? 3. If I sell this property on a Land Contract, how should the deed be handled now and after the final payment is made? 4. What if I die before this land contract is paid off? I assume that my spouse will inherit based upon our Will (my will leaves it to him) and the Land Contract says it will carry on to my heirs to be paid. 5. Should this Land Contract be filed at the Courthouse?
    First of all, selling property on a land contract is very dangerous. I've read hundreds of sob stories on the internet when the deal falls through, the buyer defaults and destroys the property on the way out. Don't do it. Don't even think about doing it. Sell the property outright to somebody who can qualify for a mortgage, or pay cash, and can take title when the money is paid.

    If you will your sole and separate property to your spouse it has to be probated. To avoid probate on it, use a beneficiary (transfer on death) deed per Indiana's Transfer on Death Property Act:

    https://law.justia.com/codes/indiana...17/chapter-14/

    Again, you can probably find the format on the internet but it's probably best to involve an estate planning attorney to help you with these property issues.

  3. #3
    Join Date
    Jul 2018
    Posts
    1,733

    Default Re: How Should a Deed Be Worded

    Quote Quoting blady
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    Someone told us that the Property Deed should be changed. Do we need to do this and if so, how do we state that the property should be left to whomever survives the other?
    Is "someone" an attorney licensed to practice law in Indiana? If I were you, I would consult with a local estate planning attorney. Among other things, it would be worthwhile to discuss whether you and your spouse should create a trust and transfer title in your home to the trust.


    Quote Quoting blady
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    I had property before we married and the deed is still in my maiden name. Should this be changed?
    I assume you meant to write "have," not "had." Regardless, why would you change it? Solely because you now go by your married name? Again, this is something about which you should consult with a local attorney. To be more direct, "what should I do?" is not a question you should be asking of anonymous strangers on the internet.


    Quote Quoting blady
    View Post
    If I sell this property on a Land Contract, how should the deed be handled now and after the final payment is made?
    This is a hopelessly vague question, but see above regarding "what should I do" questions.


    Quote Quoting blady
    View Post
    What if I die before this land contract is paid off?
    Then you'll be dead and won't have to worry about it and the executor of your estate will deal with it.

    Quote Quoting adjusterjack
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    It does need to be changed because the interest of a tenant in common has to be probated.
    This is a presumptuous statement that is based on something we don't know.

  4. #4
    Join Date
    Sep 2010
    Posts
    19,254

    Default Re: How Should a Deed Be Worded

    Tenancy by the entirety is also permitted for real estate held by married couples in Indiana.

  5. #5
    Join Date
    Jul 2019
    Posts
    24

    Default Re: How Should a Deed Be Worded

    Thanks all

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