Legal Question in Real Estate Law in California
what papers do I need to add my daughters name to my house deeds, and where do I pick them up
Asked on 10/15/15, 2:12 pm
1 Answer from Attorneys
You do NOT want to do that. It can have SERIOUSLY adverse tax consequences both at the time of the change, and even worse later if you pass away and she sells the property. She could wind up paying tens or even hundreds of thousands of dollars in unnecessary taxes if you put her on title without her paying you the fair market value of half the property. DO NOT deed property to a child without consulting with a knowledgeable estate and tax planning attorney. There are ways to work around these taxes, but it's not something you can do yourself.
Answered on 10/15/15, 2:36 pm