Legal Question in Real Estate Law in Pennsylvania
Real estate
I want to add my brother to the title of my home which i own free and clear. Do i need to disclose a dollar amount on the new deed?
Asked on 10/27/08, 9:10 am
2 Answers from Attorneys
Michael Berman
Law Offices of Michael A. Berman
Re: Real estate
You can do a dollar deed transfer, but you may still be subject to the Pennsylvania Transfer tax.
Answered on 10/28/08, 1:54 pm
Miriam Jacobson
Retired from practice of law
Re: Real estate
You may put a nominal amount [e.g., $10.00] on the deed. However, you will still have to include full value information on the transfer tax certifications. The transfer between brother and sister should be exempt of transfer tax.
You should consult a lawyer to help you determine the kind of title you want to share with your brother, how to say it in the deed, and how that will affect your and your family's rights in the property.
Answered on 10/27/08, 12:45 pm
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