Legal Question in Real Estate Law in New Jersey
My parents have a $470.000 town house and they put $120.000 down payment two years ago. I want add my name to their deed ,so I can refinance their mortgage in my name since they are not qualify. Do I pay any income tax ?
Asked on 4/11/11, 1:45 pm
1 Answer from Attorneys
Larry Raiken
Larry S Raiken LLC
no. but there might be a gift tax to be paid by your parents
Answered on 4/21/11, 10:43 am
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