What steps should be taken to transfer the deed to my Mom's rental property to my sibling, living in that property, AND still collect rent?
Mom has a clear deed to a small home she currently rents to my sibling. She wants to transfer the deed to my sibling, but still collect rent. This is her only source of income other than a small pension and SS. This sibling has had some difficult financial times and can not qualify for a loan. Mom wants to collect rent until an expressed value of the property is met. However, at 82 she is concerned that value might not be met at the point the property would need to be evenly divided among the four siblings. What suggestions do you have?