Posted on: 01st Jun, 2010 12:29 pm
i would like to add my adult son's name to the title of my house so he can take ownership and continue to pay the mortgage every month after i'm dead. i'd rather not to have to "sell" him the house and have to pay closing costs and everything all over again. this is my primary residence and my property taxes are capped because of my age. if i added him to the title next to my name by signing the quit claim deed, would that remove my senior property tax cap rate here in texas even if i would still be the primary owner of the house? finally, are there expenses associated with a quit claim deed?
thank you.
thank you.
Hi Chrisxy,
Once you add your son to the property deed, both of you will become the owner of the property. As you add someone to the property deed, I don't think that the senior property taxes rate cap will remain active any further for you. It will be better if you could draft a will and leave the property to your son. After your death, your son will have to probate the will and get it transferred in his name.
Thanks
Once you add your son to the property deed, both of you will become the owner of the property. As you add someone to the property deed, I don't think that the senior property taxes rate cap will remain active any further for you. It will be better if you could draft a will and leave the property to your son. After your death, your son will have to probate the will and get it transferred in his name.
Thanks