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Keep home-ownership documents on record to smooth succession

By Charles Carter, McClatchy-Tribune News Service, Source: MCT News Service

QUESTION: I paid my house off and got the promissory note from the mortgagee saying the loan has been paid in full. I have also received the "deed of reconveyance" from the county, and it is signed by the authorized officer and notarized.

I have a home-equity line of credit on my house through my credit union; it is currently inactive, but I like to have it available, just in case.

My younger brother is the executor of my trust. I want things to be as seamless as possible, since the logistics alone make it a bit of a headache for him.

What documents do I need to have for him to sell my house upon my demise? The grant deed I have is dated Sept. 9, 1997, and that was recorded solely to transfer the property into my trust.

_Linda Coe, Alameda County, Calif.

ANSWER: I don't know the details about your trust or your will, and I'm not licensed to practice law in California. That said, the deed of reconveyance should be recorded in the public records of the county where the property is located. Call the county courthouse to make sure this is the case and to find out where to go if you need to make this happen.

I assume you have a will making your wishes known. If you pass away without a will, your property will be distributed according to California succession law.

By what you have told me about your home-equity line of credit, I assume there is no positive amount that would be a lien on your home.

Keep your brother notified of the actions you take.

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ABOUT THE WRITER:

Charles Carter is an assistant professor of real estate in the Barry Kaye College of Business at Florida Atlantic University. His areas of expertise include urban economics, mortgage-backed securities, appraisal methodology, and law and economics. E-mail questions to ccarte31@fau.edu. Please include your name, city and state.

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