Inherited A Fully Paid Off House. Brother Wants Us To Sign A Quitclaim Deed To "make Selling Easier". Should We Use A Limited Poa Instead?
Location: California
Three years ago my father died, and a year later my grandfather (his dad) died as well. As a result, my two siblings and I inherited a fully paid-off house in California worth roughly $600k. The house hasn't grown much in value since my grandfather's death.
My half-brother lives in CA, while my sister and I live out of state (NC and NV). Because he is handling the house locally (paying property taxes, upkeep, dealing with tenants), he is suggesting my sister and I sign a Quitclaim Deed to transfer the house entirely into his name. He says this will make the selling process easier since he can just sign everything himself.
We all want an equal split of the sale proceeds. I have almost zero knowledge of how real estate law works and cannot afford a probate attorney right now.
Would it be smarter/safer to grant him a Limited Power of Attorney for real estate transactions instead of signing a Quitclaim Deed? What are the legal and tax risks of signing the Quitclaim?
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