Legal Question in Real Estate Law in Pennsylvania
joint tenancy for parent and child
My mother is deceased and my father and i discussed ways to share ownweship of their home. Is joint tenancy between parent and child a legal option to do so? He has no other assets other than the home.
Asked on 1/09/06, 1:27 pm
1 Answer from Attorneys
Bryant A. Boohar
Charles W. Boohar, Jr. & Associates, P.C.
Re: joint tenancy for parent and child
Your father ought to consult an attorney prior to changing the title to home. His house is probably his largest assets and there are many estate planning and tax considerations that ought to be addressed prior to any transfers. Additionally, such a transfer can cause him to be ineligible to receive certain public benefits. If you wish to discuss the matter further, please call.
Answered on 1/09/06, 5:02 pm