Legal Question in Real Estate Law in Massachusetts
Adding family member on a house
How do we go about putting my daughters name on my house?
2 Answers from Attorneys
Re: Adding family member on a house
You need to execute a deed, but I think you need to evaluate this carefully.
First, if this is a gift of property to her, it may have gift tax consequences. If it is part of a plan for conveying your home upon your death, then there is a better way to do this.
Likewise, if you have a mortgage, you may need your Mortgage company's consent.
Preparation of the deed is easy, however the repercussions can be great. It also can effect your benefits under Medicaid should you need them in the future.
I would consult an attorney to determine the best way to achieve your desired intent.
Re: Adding family member on a house
Simple, add her to the deed and record same with the registry of deeds.
Consider the effects from this action however. In the event your daugther gets a divorce or has to file for bankruptcy, your house is now in jeapardy. Or if she gets into a car accident and hurts someone and the recovery is greater that insurance-- you could be in trouble.
If she gets into trouble with student loans or a credit card you could have an attachment on the house and put the house at risk.
In short see a lawyer to advise you before you act.
Call if you have any questions.