Legal Question in Wills and Trusts in Washington

I would like to deed my property over to my Daughter with love and affection even though I still have a loan on it. Is it possible to do such a thing.???


Asked on 1/23/11, 7:07 pm

1 Answer from Attorneys
Charles Cruikshank Cruikshank Law Office-Since 1975

You can do that, but you will still be responsible for the loan payments. If the loan payments are not made, then she could lose the property. If there is a high enough equity value in the property, there may be gift taxes payable.

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Answered on 1/27/11, 2:40 pm


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