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Deed Transfer
I bought a house that my dad financed with his personal line of credit. I have now moved and he wants to keep the house to rent it. The house is currently in my name so how do I get the deed transferred into his name so he can take the expenses off on his taxes?
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You "sell" him the house. You prepare a deed from yourself, as seller, to your father, as buyer. Then you have the deed recorded in the county clerk or county register's office.
I suggest that you have this done by a real estate attorney or title agency. It won't be expensive and you'll be sure that it was done correctly. Also, there may be tax reporting requirements as part of the transfer. |
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