Legal Question in Real Estate Law in California

There are many reasons why not to deed over the property. Incluiding your son may end of paying more taxes on sale in the long run. You should consult with a professional before you do this.

A trust.

I urge you to use a competent estate planning attorney. Doing this yourself can have all sorts of tax implications and cause problems with your lender.

A trust, usually a so-called "living trust" is far and away the best way to accomplish a generation-to-generation transfer of real property. On an average house, the son (and perhaps you) will save tens of thousands of dollars in capital gains and/or gift taxes in the longer run. A good tax advisor or a wills, trusts and estates attorney can give you numerical examples. In addition, in the interim it will be much easier to manage you affairs if you and your wife solely control the house -- suppose you needed to sell and move?

Most attorney usually advise against putting a child's name on the deed, for a variety of reasons. Normally there are not any good legal reasons to do so, although there are exceptions. The above advice from the three other attorneys is correct.