Posted on: 07th Jan, 2011 07:18 am
my home is paid off and is in my name only. i would like to add my adult child who currently lives with me by way of a quit claim deed - for this to become his primary residence. eventually i will be purchasing another home, for my primary residence. will the property taxes remain the same for my child, since i am adding their name, not just deeding the property to him?
Hi L JORDAN,
As the property is free and clear, you can use a warranty deed in order to add your child to the property. Once there is a change in property ownership, the property taxes can get changed.
Thanks
As the property is free and clear, you can use a warranty deed in order to add your child to the property. Once there is a change in property ownership, the property taxes can get changed.
Thanks