Legal Question in Real Estate Law in Florida
My husband is buying a condo in West Boca Raton for cash and wants to put my daughter's name in a title as a co-owner. Is it necessary for my daughter to participate monetary in purchasing the condo? And after my husband's death would she need to go through probation court to have a complete ownership of this condo?
Asked on 10/21/14, 9:54 am
1 Answer from Attorneys
Barry Stein
De Cardenas, Freixas, Stein & Zachary
Seek some legal guidance. If she puts up no money for the condo, there may be a gift which is incurred with the title of the condo in her name and his. If the property is titled as survivors the survivor after the death of the other owner owns the property without probate. There are ways to achieve that without incurring a gift tax, such as a life estate with remainder interest to your daughter.
Answered on 10/21/14, 10:02 am
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