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    gaffer's Avatar
    gaffer Posts: 1, Reputation: 1
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    #1

    Dec 14, 2006, 09:08 PM
    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.
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Dec 14, 2006, 10:16 PM
    No, once you no longer own the house, you are now a renter.

    And I am sure your mortgage company will not like you giving your house to someone else while they have a mortgage 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 mortgage on your house any longer but paying a mortgage 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 a lot of other small changes also.
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