Posted on: 12th Mar, 2011 08:51 pm
We are a gay Texas couple that has been together for 27 years. The house we've shared is paid for, but the title is in my partner's name. We have wills and power of attorney in each other's name. First, would it be wise to add my name to the deed of the house. Secondly, what (roughly) are the costs involved in transaction. Finally, since same-sex relationships are not recognized in Texas, will my name being added to the deed kick-in any type of gift taxes. Thank you.
Hi tlanek1
Welcome to Mortgage fit,
Firstly it is always advisable to add your name to the deed of the house.As far as cost to accomplish this deed is concerned it differs from attorney to attorney...You may contact this attorney for further details of cost involved
David L. Leon, P.C.
3500 Oak Lawn Ave., Ste. 205
Dallas, TX 75219
(214) 696-0021
As far as gift tax is concerned you can take advantage of lifetime gift tax benefit of up to $ 1 million.
Feel free to ask any further query if you have...
DIPA
Welcome to Mortgage fit,
Firstly it is always advisable to add your name to the deed of the house.As far as cost to accomplish this deed is concerned it differs from attorney to attorney...You may contact this attorney for further details of cost involved
David L. Leon, P.C.
3500 Oak Lawn Ave., Ste. 205
Dallas, TX 75219
(214) 696-0021
As far as gift tax is concerned you can take advantage of lifetime gift tax benefit of up to $ 1 million.
Feel free to ask any further query if you have...
DIPA