Legal Question in Real Estate Law in Pennsylvania
deed change
look to add my children to property deeds without refinanceing. Also need information on wills
THANKS
1 Answer from Attorneys
Re: deed change
You can do what you want but its not done the way.
Once you execute and record deed its a document that can NOT be changed.
What you have to do is execute a new deed. Where the current owner(s) grant to the new owners which will include the old owners title to the property deed.
While its easy to do that assuming you have a copy of the latest deed, however, for income tax purposes it might not be the best way to go.
Its interesting that you brought up needing to know about wills. I think you should consider the property transfer to the children and your estate planning together. With an eye to minimizing taxes among other things.
Feel free to contact me initial consultations are free.
{John}