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Home > Law > Real Estate Law   »   Quick CLaim Deed

 
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Old Dec 14, 2006, 07:08 PM
gaffer
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Quick CLaim Deed

Can I title my house into my sisters name, but still keep tax benefits and mortgage interest deduction? I would still live in the house and pay the mortgage and taxes.

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Old Dec 14, 2006, 08:16 PM   #2  
Fr_Chuck
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no, once you no longer own the house, you are now a renter.

And I am sure your mortage company will not like you giving your house to someone else while they have a mortage on it.

You can add her name with your name and should ok, but if you take your name off, you are not paying a mortage on your house any longer but paying a mortage on your sisters house, and the insurance would go up since you are no longer the owner, you would not get a homestead exemption in your property tax ( if you are)
and alot of other small changes also.
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