Legal Question in Real Estate Law in Pennsylvania
If a house is deeded in both my mother's name and mine do I need to pay an inheritance tax
1 Answer from Attorneys
Upon your mother's death you will be responsible to pay Inheritance Tax on 1/2 of the value of the property, as long as, you mother lives at least one year after the date of the transfer. If she does not live one year, you will be responsible to pay Inheritance Tax on the full value of the property.
But keep in mind, if you should for some die before your mother, your mother would have to pay Inheritance Tax in the same manner. By adding you to the deed she would only be 1/2 owner of the property, upon your death, she would be inheriting 1/2 of the property, and therefore would have to pay Inheritance Tax for inheriting 1/2 of the property from you.
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