Legal Question in Real Estate Law in Indiana
Add an interest to a property
I want to add my mother to my property I own by myself but a quitclaim appears to give her all interest. Do I just add both our names to the grantee? I live in Nevada and she is in Indiana. Can I sign and have it notarized here and then mail to her and she do the same?
Asked on 6/25/08, 1:17 pm
1 Answer from Attorneys
James Smith
James E. Smith Ltd.
Re: Add an interest to a property
You would just need to sign as grantor. You could deed it to both of you as joint tenants or tenant in common and record in in the county where the property is located. There may be gift tax consequences to just giving it to your mother. I would recommend deeding it to a trust where in both you and your mother are beneficiaries. This avoids conveyance and gift tax as well as probate.
Answered on 6/25/08, 2:50 pm
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