Take over property or not (deed issue)
Hello
Hoping someone can help with this answer before digging in deep. I have an elderly ill father with two mentally handicap brothers in the state of Florida. He wants to bequeath his home to me so that my brothers will always have a home (nothing can be under their names or else SSI and Disability is removed)
Issues:
- There is still a mortgage - he owes on the house more than house is worth (but value is going up)
He divorced his 2nd wife who tried to sue for half the property, however this was a premarital purchase, so divorce judge said she had no claims to home.
- he was in foreclosure before the divorce and was able to save the house under one of the Obama 'save your home programs', however at that time, it was refinanced under both his and her name.
- Prior to divorce he added her name to deed so in event of his death, the house would not go into probate
My question is if he is divorced now does he have to still legally remove her from deed? If he passes away would there be an issue if the deed has not been updated?
He is on a fixed income and he really wants me to take over this house and I am looking at all the positives/negatives. The house was built in 1989 and does have potential but needs about 30-50k of work. New roof, update kitchen, new a/c etc...any thoughts, input advice is greatly appreciated