Posted on: 11th Nov, 2008 06:37 am
my wife and i would like give our children our house and us become tenants as we are out of the country 6 months of the year
Hi cliverose!
As far as I know, you can transfer the property to your child only if he/she is an adult i.e 18 years of age. In case, your child is an adult, you can transfer the property with the help of a quitclaim deed. You can even put the property in a trust or try to rent it out to someone.
Thanks.
As far as I know, you can transfer the property to your child only if he/she is an adult i.e 18 years of age. In case, your child is an adult, you can transfer the property with the help of a quitclaim deed. You can even put the property in a trust or try to rent it out to someone.
Thanks.
Use a Grant Deed to transfer title to your children. Then, execute a Residential Lease for the tenancy.
