Legal Question in Real Estate Law in Florida

My parents want to put a new townhouse purchase in my name, I suggested that we all have our names on the deed. What are the pros and cons for these two ideas and would there be a tax involved when it passes to me? If so when will that tax need to be paid?


Asked on 12/19/09, 4:05 pm

1 Answer from Attorneys
Lesly Longa Longa Law P.A.

If they put the house in your name, the taxes are in your name too. It would not pass to you because you would already own it. That being said, if it's not your homestead you could risk losing it to creditors. Your parents should speak with an attorney for assistance in making this decision.

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Answered on 12/28/09, 7:49 am


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