Legal Question in Wills and Trusts in New York
adding children's names to deed
We want to make sure that our children get the house if something happens to us. How do we go about getting their names on the deed?
2 Answers from Attorneys
Re: adding children's names to deed
A new deed has to be prepared and I strongly recommend that you engage a lawyer for this project.
Re: adding children's names to deed
NY Real Property Law section 10 indicates that a child may hold real estate. However, RPL section 11 states, "A person other than a minor, a mentally retarded person, or person of unsound mind, seized of or entitled to an estate or interest in real property, may transfer such estate or interest."
Therefore, you may transfer the property to the kids, but the kids would never be able to mortgage, sell, transfer or effectively use the property.
You may want to think about creating a trust.
Mike.
Related Questions & Answers
Looking for something else?
10,200 active attorneys ready to answer your legal questions today.
Featured Attorneys
Earn additional revenue and grow your business.
