Legal Question in Real Estate Law in Arizona
buying a house with my daughter
If I am on a deed with my daughter and she is sued for something for which she is responsible, is just the property of that deed at risk, or would other property I own (but in which she has no interest) also be at risk?
1 Answer from Attorneys
Re: buying a house with my daughter
A broad question with limited facts is presented. I am wondering why she is on the deed, instead of using a beneficiary deed, which has no risk for the grantor and passes the property to the beneficiary at the death of the grantor without probate.
The danger of putting your daughter on the property deed as an owner now is that you do not own the whole property any more. You need her signature to sell, re-finance etc. Her creditors can try to execute against her share if she gets a judgment. I do not think this would expose your other property where she is not on the deed as an owner to liability for her debts, but cannot really give an accurate opinion on a general question without specific facts.
If you want a free copy of my CD, "Your Estate Plan" you can request it by calling 480.835.1500.
Best regards,
James D. Jenkins
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