Posted on: 10th Oct, 2007 09:27 am
my mom would like to add me to her house. is there any tax issues doing this? and is the quit deed the best way to have this done?
you would both be responsible for the taxes since you would both be part owners. a quit claim deed is perfect for adding a family member.
Hi Dbunac,
Quit claim is the easiest way to add a family member to the title.
Quit claim is the easiest way to add a family member to the title.
yes, the qiutclaim deed is the best for a family member. If your mother do a quitclaim deed to you, it means that your mother transfer the title of te property to you. so ,you will be responsible for the tax of the real property.