[MD] How do I give my husband shared ownership of our home?
I asked a real estate question a couple of days ago and got what I thought was a good answer. However, it looks like a TOD is not legal/available in the state of MD.
So I have a question about an alternative document I saw on the internet Revocable Living Trust Form
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Ok. Controlling things after the fact can be harder. So in the revocable trust, you'd need it to become irrevocable upon the death of the first spouse. Or else the second living spouse can change the trust as they want. So you'd lose that control.
Joint ownership is easy to do in the short term. But long term, you need a trust for any control after death.
The joint deed is easy. That is just a quitclaim deed from you to you and your husband. You may want to talk to the lender about any mortgage too. They may want to know about the new ownership. I can't imagine there's any objection with it being a spouse and a trust, but you never know.
The joint deed can be done for free or at a low cost. It should only cost recording fees.
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I asked a real estate question a couple of days ago and got what I thought was a good answer. However, it looks like a TOD is not legal/available in the state of MD.
So I have a question about an alternative document I saw on the internet Revocable Living Trust Form
Lexi, Chatbot
I understand your concern about the Transfer on Death deed not being available in Maryland. Have you already started looking into creating a Revocable Living Trust instead?
Yes. That is where my question is I created one with my spouse and I as the grantors.
Lexi, Chatbot
Are you specifically looking for information on how to create a Revocable Living Trust in Maryland or do you have other questions related to this alternative document?
I have already created one, but I have questions since my husband and I are the grantors. However, only my name is on the property. I have questions about what happens if I die before him, will he automatically be able to claim the property?
Lexi, Chatbot
Is there anything else the Lawyer should know before I connect you? Rest assured they'll be able to help with your property ownership issue.
On the form where it asks "Do you have children" I answered no. However, my husband has 3 children from a previous marriage
StephenH129
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StephenH129
I am happy to help. What is your legal question or concern? How can I assist?
Hi Stephen - you helped me a couple of days ago. However, your suggestion to create a TOD is not available in the state of Maryland.
So I have already an irrevocable trust (state is MD), but I have questions since my husband and I are the grantors. However, only my name is on the property.
I have questions about what happens if I die before him, will he automatically be able to claim the property?
StephenH129
No. Not if only you are named. If you have a trust, you can put it into the trust itself.
StephenH129
The home, if in only your name, would go to your estate, so that would be the will. I assume the will pours into the trust, but you can avoid probate if it is in there already.
When you say pours into the trust.... I am assuming that means that I am naming my husband as my beneficiary?
In the will? yes
StephenH129
No. You'd be naming the trust. So if you had a will leaving it to him, he'd need probate to put it into his name.
A pour-over will is meant to catch anything not dealt with otherwise by pouring it into the trust. That still requires probate, though.
So if the goal is to avoid probate, jointly hold the home, or put it into your trust.
"Put it into your trust" meaning to make my husband a beneficiary? Then I would need to be a single grantor ( not both of us). Is that correct?
StephenH129
No. Retitle the entire home into the name of the trust.
You are the single grantor. You could redo the deed into both your names, so upon death, he would have full ownership if that is the goal.
StephenH129
"Joint Tenancy - Joint tenancy is a form of joint ownership of real property with two or more owners called “joint tenants.” The joint tenants have an undivided interest in the real property and the right of survivorship... [summary of joint tenancy and Maryland law]... Therefore, if purchasing real property with the intent of joint tenant ownership, explicit language indicating that intent is necessary... Creation and maintenance of a joint tenancy also requires “four unities of interest”..."
StephenH129
So Mary Smith and John Smith, as joint tenants. That would be the new ownership for joint.
Okay. So it seems like I need to do 2 things:
1 - use another vehicle to solidify husband's co ownership of the property
2 - then we can have a trust or TOD ( in Oct 2025 possibly) that designates the beneficiary's of the property ( to avoid probate).
StephenH129
If you put it in the name of the trust, the trust terms control it. The only real warning with an irrevocable trust would be that you do not technically own it anymore. The trust would own it. So sales may be difficult or cumbersome to a degree.
But an irrevocable trust would prevent probate and could shield the home from Medicaid.
StephenH129
Maryland does not accept TOD deeds. There are only a few states that don't anymore. Normally, there is some mechanism, such as a ladybird deed, TOD, or otherwise.
So the best options, the way I see it, are joint ownership or transferring into the trust directly.
StephenH129
If the goal is to leave it to the husband and avoid probate, joint tenancy seems to make the most sense.
What about a Revocable trust
StephenH129
Sure. That's another option. It avoids probate but does nothing for Medicaid.
Revocable Living Trust is a lot easier to deal with. You can create this on your own. It would still need a new deed into the name of the trust.
There are 2 goals... actually...
1 - to provide husband with ownership,
2 - to control who the beneficiaries are after I'm gone. We are a blended family and I want to name one person from his family and one from my family. I like the idea of creating a revocable trust as suggested but start with getting a new deed with both of our names on it.
StephenH129
Ok. Controlling things after the fact can be harder. So in the revocable trust, you'd need it to become irrevocable upon the death of the first spouse. Or else the second living spouse can change the trust as they want. So you'd lose that control.
Joint ownership is easy to do in the short term. But long term, you need a trust for any control after death.
The joint deed is easy. That is just a quitclaim deed from you to you and your husband. You may want to talk to the lender about any mortgage too. They may want to know about the new ownership. I can't imagine there's any objection with it being a spouse and a trust, but you never know.
The joint deed can be done for free or at a low cost. It should only cost recording fees.
great thank you so much.
StephenH129
Did you have any other questions or concerns? Do you need any clarification on what we have discussed?
no Im good ( for now anyway)... Thanks again :)
StephenH129
Sounds good. Happy to help. Thank you very much. Take care now and be well!
StephenH129
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