Hello, I am a permanent resident of USA and own an apartment in Miami. I have a daughter of Australiaian nationality and prmanent resident of Canada, currently residing in Vancouver together with her husband. I want to transfer my apartment to my daughter, I don't mean selling to her. *** advise how do I do it?
The reason for transfer is because the property value has dropped by over over 50% and I don't think it would recover before I die. I also do not want to go through all the unnecessary procedures before my daughter can claim ownership afer I die. For information, I retired in china and most probably not returning to USA forever, because of high cost of living and poor economy.
your advice is much appreciated. Peter

You can transfer ownership by issuing a quit claim or warranty deed to your daughter. Then registering the deed with the county. However, there may be tax implications to you on this. I would consult a Real Estate attorney about this.

First is there a loan on the property, if so, they may or may not allow a transfer, Also while it is a transfer, in fact it is the same documents and same procedure as a sale.

You may add her on the deed, so that you both own it now and she will own it completely at death, or let her be the sole owner now.

There are many options on how to do it,

how do I add my Australian daughter on the deed ? Who can help me ? Can I simply contact the county for changes ? If choosing this method, would it attract tax? The property lost 50% of its original purchase value, do I still pay tax ? Ta,

Can I do a quit claim or warranty deed from overseas country (say China) and send it to the county for registration ?

I would recommend contacting a Title Company or Real Estate attorney in the county where the property is. They can better advise on the process and tax implications.

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Originally Posted by Peter_ng

... I ... own an apartment in Miami. ...

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A condominium unit?