Texas specific Transfer of land in Family
A mother, her daughter and husband purchased a tract of land. At the time of purchase, the daughters father was alive. The father is not on nay deed what so ever. Later the daughter and husband purchaed (divested) a portion of the land for themselves.
Over a time of 25 year daughter and husband live peacefully on the lands they purchased from daughters' mother and the dad has passed away. Now, daughter and husband want to obtain a loan and the lawyer tells them that they are only 3/4 vested in the property they purchased from daughters mother. No where is the mothers husband mentioned in the first deed when they first acquired the land before the split.
Now, the daughter and husband want to get a loan except they examine the deed and tells them that it is not sufficient. So, daughter and husband seek legal remedy and are told that even though the mother, daughter and husband entered into a transaction to purchase a tract of land collectively.
The father was alive throught both transfers of land. That is when mom, daughter and husband purchased collectively and when daughter and husband purchased their tract of land leaving the balance to mom. Mom and dad have died and son now has fee in what is left.
Now, the lawyer tells daughter and husband that son has 1/4 interest in their small tract of land and here lies the problem.
Remember, dad is not involved in this at all. He is not mentioned anywhere in any transfer or deed.
I say son has no interest in the tract that daughter and husband purchased and have a clear deed.
Comments please and I thank you.
To read the rest of this thread go to www.i-boards.com/bnp/pob/messages.asp?MsgID=1298188&ThreadID=123743&IsResponse=False#1298188