Legal Question in Real Estate Law in Georgia

Re: home sale to son

Sure there can be negative consequences. Among other potential issues, if you have other debts (credit card, etc.,) and you transfer for significantly below market, then transferring the property to your son could be considered a fraudulent conveyance - trying to shield the equity from your creditors. Beyond that, a straight sale might not do what you want it to do. A college age person might have a different idea of keeping it in the family later on, and you cannot predict his financial situation in the future. A life estate is an option, but see an estate planning or real estate lawyer (and update your will, etc. while you are there since there are obviously changed circumstances).