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

    Jan 30, 2012, 07:24 PM
    Adding name to deed
    I would like to add my daughters name to my house deed.I am the sole owner.Most forms I have found are for transfer of deed-not adding name.Can you help me?
    Fr_Chuck's Avatar
    Fr_Chuck Posts: 81,301, Reputation: 7692
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    #2

    Jan 30, 2012, 07:32 PM
    Is there a loan on the home> if so, most will require that they give permission prior to changing the deed.
    But you are in fact doing a entire new deed and filing it. On paper a share of the home is being "sold" to them.

    You are selling or transferring the deed from YOUR NAME. To Your Name and Their Name
    LisaB4657's Avatar
    LisaB4657 Posts: 3,662, Reputation: 534
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    #3

    Jan 30, 2012, 10:12 PM
    At the top of the Real Estate Law forum there is a sticky post that explains how to add someone to a deed. You can read it at https://www.askmehelpdesk.com/real-e...ed-569716.html
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
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    #4

    Jan 31, 2012, 04:53 AM
    As pointed out, you don't "add" a person to a deed. What you do is you "sell" the property from the current owner(s) to the new owner(s). So, you would be selling the property from yourself to yourself and your daughter as joint tenants.

    But there may be financial and tax implications of such a sale. First, if there is an outstanding loan, the lender may have to approve the sale. The have a lien on the property and the property can't be transferred without satisfying the lien. If the value if the home is more than $13K, there may be a gift tax due, since I assume the daughter is not paying fair value for her share. If you are doing this to protect the home from Medicare, there are legal implications there.

    I strongly suggest you consult with an estate planner or real estate attorney about doing this properly and legally.
    smoothy's Avatar
    smoothy Posts: 25,490, Reputation: 2853
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    #5

    Jan 31, 2012, 05:41 AM
    And one point nobody touched on (and fewer even want to think about)... once her name is on the deed, its leagally her house too, and all the rigths that go with it...

    Meaning in a divorce or a legal settlement that becomes an asset that can be attached. If there is a falling out she could also force a partition sale to get "her" part of the house. I does happen often enough to need to be considered.

    This is the dark side, and is true as it what the previous posters have said as well.

    Doing such a think is not without risk.
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