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

    Nov 27, 2009, 07:14 AM
    Pro and cons of adding a name to home deed
    What are the tax implications to any parties or future tax to adding daughters name to deed on house
    s_cianci's Avatar
    s_cianci Posts: 5,472, Reputation: 760
    Uber Member
    		  
    #2

    Nov 28, 2009, 08:23 AM

    She could become jointly responsible for the property taxes, at least "on paper", even if you currently pay them and plan to continue doing so. Down the road, if you were to sell the home, with your daughter's name on the deed she could also share the liability for capital gains if that becomes an issue. Is her name on the mortgage also (if there is one?) If so, she could be entitled to half the federal tax deduction for the interest.
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!

Adding only child to home deed [ 4 Answers ]

I own my home, no mortgage, am divorced and have only one child. I live in Texas and want to know how to add my son's name to my deed. He is beneficiary on everything else I have and I have no will as I don't want him to have to go through probate. If I add him to my deed will the house...

Adding another person to home deed in Tenneessee [ 2 Answers ]

As a Tennessee resident, what is required to add my son to my residence deed?

Adding my husbands name to the deed of our home [ 1 Answers ]

I need to know how to add my husbands name to the deed of our home

View more questions Search