Can a person who is not paying for a piece of property be put on the title of the property legally?
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Can a person who is not paying for a piece of property be put on the title of the property legally?
Is that person now considered an “owner” even though he has not paid for the property?
Asked on August 8, 2011 Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 13 years ago | Contributor
A person who has not paid anything for real property may become a record owner if the record owner of a piece of property desires to grant an interest of that owner's property (grant deed) or release an interest (quit claim) that he or she may have.
The gifting of real property to others is a common estate planning device. Many times parents gift fractionalized ownership interests in real property that they own to their children for specific reasons, amongst them estate planning purposes.
In such a situation where a gift of real property is made, the person receiving an interest in the property through a recorded deed in the county's recorder's office where the property is located becomes one of its owners even though the person receiving the interest pays nothing for the property received.
Good question.
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