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| Wills, Trusts, Estates Wills, trusts, estates, gift tax planning, etc. |
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#1 |
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Junior Member
Last Online:
Jan 14th, 2008 07:21 PM Join Date: Jan 2008
Posts: 4
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My fiance and I are building a house on property his mother recently gave him. The property has been in his family a long time and it's extremely important to them that it stay that way. To ensure this, the quitclaim deed states "Grantor and her heirs, representatives and assigns reserves the right of first refusal to purchase the property described herein, in the event the Grantee or any of his heirs, representatives, assigns or any other third party seeks to sell, depose, dedicate, or otherwise transfer said real property." His sister, an attorney, explained to me that I would inherit our home and property if my fiance died if he stated so in his will. Is this true? Or would his family inherit our home because of the deed? Also, we both have children from previous marriages. If I inherited the property then died, could I will it to my daughter and his son, or would only his natural children be entitled?
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#2 |
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Top Level Member
Last Online:
Jul 11th, 2008 12:49 PM Join Date: Mar 2007
Posts: 694
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Get a formal legal opinion that reviews it all--but it sounds as if they can buy it back before any sale or transfer...
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