Ask Experts Questions for FREE Help !
Ask
    mikey-can's Avatar
    mikey-can Posts: 1, Reputation: 1
    New Member
    		  
    #1

    May 11, 2008, 10:22 AM
    What's the simplest way to add my parents to the deed to my home.
    I am getting divorced and my husband will be executing a quit claim deed removing himself from the deed to the home. I want to add my parents to the deed with me as "joint tenants with right of survivorship". What options are available that would be practical and economical. Thanks
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
    Expert
    		  
    #2

    May 11, 2008, 11:09 AM
    Well first why?

    Next is there a mortgage on the home, taking off a spouse because of divorce and a court order is one issue, but adding someone to a deed that is not on the mortgage is another issue, and you will want to be sure that the mortgage company does not care first.
    If they don't have trouble doing so, a quitclaim deed would be fine at doing it.
    Also have your parents check about any tax issues about them being added, since there couild be an issue of the gift of 1/2 of the equity in the home.
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Parents house is paid off - what are the tax/financial implications for deed transfer [ 1 Answers ]

My father recently passed away and my mother wants to transfer the deed to their house over to me. The house is fully paid off and I was wondering if we did transfer the deed, would there be any financial implications, i.e. would this be considered a gift and if so, what would the tax implications...

Add Children's Names to Parents' Deed [ 2 Answers ]

Both of my parents are in declining health. To protect their home we would like to add the names of their three children to their deed. How can we do this?

The simplest of operations [ 1 Answers ]

I have trouble with the simplest operation of my PC. I need to know how to temporarily disable and restart my virus protection program and others; I need to know the routine to completely uninstall a program; I need to know how to defragment my files on hard disk, etc. I need to know how to...

I Need help with probably the simplest accounting question ever [ 1 Answers ]

Okay, I realize this may be the simplest accounting question ever, but for sone reason I can't figure out the correct answer. If you're given an amount in total revenue and an amount in total expense.. how do you find the dividend? And likewise, if you're given a dividend amount and a total expense...

View more questions Search