Legal Question in Real Estate Law in Pennsylvania

The current legal owner of a home has to sign a new deed to the intended new owner. Also, transfer tax statement forms for the County and for Pennsylvania must be completed and filed with the deed in the County Recorder of Deeds Office, together with transfer taxes if they apply to the transfer. Some transfers are exempt of transfer taxes.

Before transferring a home, the owner should consult with an experienced lawyer to find out what the consequences will be. The transfer may result in the inability of the current owner to receive benefits that s/he is entitled to within the next few years, or may make the person to whom the home is transferred ineligible for benefits, or may result in a default on an existing mortgage on the home with the lender suing the current owner and requiring the mortgage to be paid off immediately. Also, while many people consider a deed transfer to be a substitute for a will, it is not a good idea and there are better ways to plan for your future.

THIS RESPONSE IS NOT LEGAL ADVICE, SINCE I DO NOT HAVE ALL OF THE INFORMATION THAT WOULD BE REQUIRED, AND I DO NOT HAVE A REPRESENTATION AGREEMENT WITH YOU.

* If the answers to your question confirm that you have a valid issue or worthwhile claim, your next step should almost always be to establish a dialog with a lawyer who can provide specific advice to you. Contact a lawyer in your county or township.

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