I need help/advice with transferring Neb property.

So I tried to ask for advice on reddit. Got nothing substantial. Won't on my FB because I normally don't post personal stuff there anymore.

So I've come to the prestigious ATS.

My father and I live in two different counties in Nebraska. His health is failing him and he would like to transfer his small property over to me while he's still of sound mind and able. We collectively don't have money for lawyers so we're not sure where to start or what to do. I know transferring a vehicle over is pretty easy so I was hoping that maybe property would be also. I just don't know where to start or what forms I even need. I'm looking for the quickest, cheapest and most painless process. Any help and advice would be greatly appreciated. I'm willing to answer any questions needed. TIA

a reply to: Chickensalad

I'm in Nebraska and I know there is a law where you can transfer property as a gift tax free once every few years.... I have some friends who are lawyers and my mother is a paralegal... I'll look into it for you. Won't be tonight before I could get you a definite solution, but like I said, I'll see if I can help ya.

a reply to: sine.nomine

I would be most appreciative. PM if you need. I'm stressed out for more reason than the post title implies.

I just need help with the jumping start. I'm truly new and lost in this.

I do not know how it is in your state, but here a person can have one vehicle and a house without having to worry about losing it if they wind up in a nursing home.

Get a ladybird deed. That way they cannot go after the house. Put right of survivorship on the title of the car so it does not become part of the estate which the government can go after. If the house is left to the estate, the government can put a lean on it after he dies. Read about Ladybird deeds, We are getting one of those on our house, it also protects the taxes from being unlocked so the government can jump up the taxes when it is inherited by the daughter. The rest can go in a will, that may become something that can be required to be sold to pay the nursing home.

The government has not been pushing too hard to take old people's savings but they already have passed laws that say they can. Sooner or later they will go after estates, especially if the person does not have a will.

You can talk to a lawyer about the lady bird deed and the right of survivor on the car. There is also an estate tax and if the home and property are not part of that estate, there is no tax. Same with the estate tax on the car, it is inherited directly. Adding a beneficiary to any savings accounts is like an insurance policy, it is not taxable.

a reply to: Chickensalad

Look into a Quit claim deed, I’ve done two myself throughout the years in N.C. Look up your states law on one and you should be able to write it up, have it noterized, with at least one witness (maybe two), go file it at the land management office in that county, fees may apply to file.

originally posted by: rickymouse
I do not know how it is in your state, but here a person can have one vehicle and a house without having to worry about losing it if they wind up in a nursing home.

Get a ladybird deed. That way they cannot go after the house. Put right of survivorship on the title of the car so it does not become part of the estate which the government can go after. If the house is left to the estate, the government can put a lean on it after he dies. Read about Ladybird deeds, We are getting one of those on our house, it also protects the taxes from being unlocked so the government can jump up the taxes when it is inherited by the daughter. The rest can go in a will, that may become something that can be required to be sold to pay the nursing home.

The government has not been pushing too hard to take old people's savings but they already have passed laws that say they can. Sooner or later they will go after estates, especially if the person does not have a will.

You can talk to a lawyer about the lady bird deed and the right of survivor on the car. There is also an estate tax and if the home and property are not part of that estate, there is no tax. Same with the estate tax on the car, it is inherited directly. Adding a beneficiary to any savings accounts is like an insurance policy, it is not taxable.

Truth be told. He has nothing but a small property with a trailerhouse on it. He owns the land and trailer.
He has nothing in his name other than. He's worried that back medical bills will take that from under him. So, he'd like to put it in my name to avoid a lien and eviction/homelessness.

a reply to: Chickensalad

Look into "Homesteading".

revenue.nebraska.gov...

It's fast, pretty cheap to file, and protects your home from medical bills.

en.wikipedia.org...


More info: dhhs.ne.gov...

a reply to: Chickensalad

Have your father "sell" the property to you for say $100 (whether money changes hands or not). Write up a receipt that both of you sign and have 2 witnesses also sign- even better if you can have it notarized. Then go to your county tax office with that and have taxes switched into your name. You can pick up a Quit Claim form while you are there but the other will protect you until you get the form filled out and properly filed.

The reason I advise you to make it a sales transaction is because in some states if an elder "gifts" property to you the state, a nursing home if he ends up needing that, or any debtors can come back on you. Buying the property prevents that.

originally posted by: Sookiechacha
a reply to: Chickensalad

Look into "Homesteading".

revenue.nebraska.gov...

It's fast, pretty cheap to file, and protects your home from medical bills.

en.wikipedia.org...

It looks like none of the homesteading exemptions apply here. But I do appreciate the input. Sounds like I still have to pay the last 2 years of property tax no matter what. Which I'm not happy with. I owe this 'guy' nothing in reality.

a reply to: Chickensalad

That may be an issue. I'll pm you tomorrow after some consulting.

I can probably help with drafting some forms too.

a reply to: GeauxHomeYoureDrunk

Is it "quit claim" or "quick claim"? I've heard it called both in the last 8 hours and not sure what to ask for at the Courthouse.

So its just about as easy as transferring a car? That's what I'm looking for. Null and void the title companies and lawyers. We just don't have the money for that.

We po folk n all.

a reply to: Chickensalad

It is a Quit Claim. It's a form they should have at the county tax office where basically the property owner gives up any interest he has in the property in question to the person who is getting it. Don't know about in your state but most places costs about $25-50 .

Although when I bought a piece of property a few years back I hired a lawyer and had him draw up paperwork and did the transaction in his office and then he went and filed the paperwork at the courthouse and it only cost me $150. The guy I was buying from was shifty so I wanted to make certain he couldn't come back on me- otherwise I'd have done it like I suggested to you. Either is legal.

a reply to: GeauxHomeYoureDrunk
I really appreciate it. I've found an online state form for that. I'll see what sine says and take all of your advice into consideration.

I got way further here in 20min than I did all day on reddit.

Crop of the cream folks! Don't forget it.

Hell, my own family had no resolutions and just threw it at me. Which is why I'm here.

a reply to: Chickensalad

Make a quit claim deed. Now
Ps..it can be done just getting form You don't need any legal at all on a quit claim. He passes, it's yours automatically. No transferring or lawyers.

Okay, some others have given you some advice which "might" work, BUT as a fairly large landowner with multiple acreage properties myself here's what I would recommend you do FIRST! (i.e. BEFORE you do anything else!)

Go down to your local County offices (IN PERSON) and explain your situation and ask them who in the County you should talk to. Different Counties call departments different names, so just ask them the proper department to talk to. It could be the Assessor's office, or it might be called, Properties, or Title and Deeds (or any number of other variations). Go to that office (it may be in a different building) and talk to someone. If you need to make an appointment, then make an appointment and come back. Don't rush, and be polite...take your time! No need to panic. Do NOT try to do this on-line!!

You will need to do the same thing in BOTH your County, AND the County your father's property is in. Don't fill anything out or sign anything, just get the forms and information. I stress here, just get the information!

Note - Many Counties today have now passed laws prohibiting the old notion of selling something for $1 in order to transfer ownership. (For example, our County has...even for cars). This is because so many people tried to dodge tax obligations with this practice (this is also the reason you don't want to sign anything when you're there, just get the information). Counties are very wary about making sure they get their tax money, but here's the thing...they're always going to get their tax money because the property resides in their County (it's not like you can move it!). Regardless, they still get weird about this kind of stuff.

A Quit Claim Deed might be what you wind up doing, but until you know the County rules for certain doing something like this might just create more trouble than if you followed the rules to begin with.

Another note - Once you get sideways with the Assessor's office it's very hard to undo, like a black cloud which follows you around. Don't go there!

Some other considerations. One or both Counties may require an appraisal on the property. Don't sweat it, just pay the couple hundred bucks to get the appraisal done. Appraisals are rarely high, they're usually low. Unless your Dad's trailer property is surrounded by million dollar homes then it's no biggie.

Here's a couple good rules of thumb about appraisals:

1. Trailers are worth zero. The trailer should not factor into the property value, unless it is a negative value (which is a good thing for you).
2. Rural western property, unless it's in highly developed subdivisions, is generally worth about $1,500 to $2,000 per acre. Sometimes as low as $5-600 an acre, depending on your area (water rights and several other factors). If it's much higher than this then you need to start asking questions about why.

Bottom line - Start by talking to your County and the County your father's property is in!

Once you do that, please feel free to PM me (or post here) about what you found, and then we can go from there.

P.S. This action is something which is likely very important to your father, and very important to you. Don't get yourself tangled up with a bunch of bureaucracy before you know the facts about what you're dealing with. Trust me, I know!

ETA - Oh, when you talk to the County(s), be sure to tell them your father's property is owned outright with no liens. This is a key element. If your father does in fact have some liens on the property then you FIRST need to work with him to satisfy those liens before you try to transfer ownership. The property needs to be free and clear before you can transfer. This is another reason to talk to the County, to ensure there are no liens, tax or otherwise, because they all get filed with the County.