Legal Question in Real Estate Law in Florida
My father-in-law buying a house for me and my wife under his name. We want to transfer it to our name 3 years down the road. How should we title the deed to make the purchase 3 years from now cost effective?
Asked on 3/30/13, 7:38 am
2 Answers from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
Seek some legal counsel on exactly what you want and the tax impacts it will have. You have homestead rights, homestead tax deductions, interest deduction issues and income tax implicationson the sale of the property. You need an expert in these matters to discuss them with.
Answered on 3/30/13, 7:55 am
David Slater
David P. Slater, Esq.
You cannot do it with a deed. You need a separate contract.
Answered on 3/30/13, 9:37 am
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