Legal Question in Real Estate Law in Virginia

How can I transfer title of my house to just my wife's name so that someone I owe can't put a lien on it? I purchased the house for 140,000 put $40,000 into it it's worth 200,000 now and we want to be able to deduct the repairs from the profits when we sell it in the future. Thanks! How can I transfer title of my house to just my wife's name so that someone I owe can't put a lien on it?


Asked on 8/02/16, 6:49 am

1 Answer from Attorneys
Bradley Ratliff The Ratliff Law Firm

You can simply deed it to her by deed of gift. This does, however, change the basis she has in the property from the value you paid to 0 - which will have an impact upon sale. If you file taxes jointly, she can deduct the work. You should see your CPA about the tax implications. Good Luck. --BR

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Answered on 8/02/16, 7:45 am


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