Title transfer, parental purchases
Answers to real estate questions as appearing
in the Houston Chronicle
By george stephens, CRB, AND Charles J. "Chuck" Jacobus, JD
Dear George: Once a property is purchased at a tax sale, what is the next step to ensure that the title is transferred to the buyer?
Answer: After the tax sale, go back to court to confirm the transfer and to confirm that the right of redemption has not been exercised. If you plan to do this, hire a lawyer.
Dear George: My elderly mother wants to purchase rental property for future income. My father, who will succumb to lung cancer in a few months, accounts for a sizable chunk of their monthly income with his pensions; these will stop when he dies. They are able to pay cash for a small house, but my mother needs his signature. He refuses, partly due to increasing dementia. My mother got a general power of attorney when he was in the hospital, but the bank would not honor it. Can I purchase a property in my name and just add her to the title?
Answer: Provided you can qualify to purchase the property on your own, buy it in your name. Your mom can buy it from you after Dad has passed on.
E-mail your question to "Ask George & Chuck" or fax it to 281/596-7591. The answers to questions in this column do not contain legal advice. If you wish to obtain legal advice, you should consult your own attorney.
George Stephens, CRB, is the broker of ERA Stephens Properties. He is licensed as a mortgage broker in Texas and a real estate broker in Texas, Georgia, and Massachusetts.
Charles J. Jacobus, JD, is board certified by the Texas Board of Legal Specialization in Residential and Commercial Real Estate Law, and the author of Texas Real Estate Law and Texas Real Estate, both published by Thomson Publishing. He also teaches at Champions School of Real Estate and Houston Community College, and is an adjunct professor at the University of Houston Law Center.
George and Chuck are co-authors of Texas
Real Estate Brokerage and Law of Agency published by Thomson Publishing.
