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Zepln75 · Joined: 22 Aug 2009 Posts: 2 1.30 Dollars($)

I hope to purchase this beautiful home in a 55+ community in Californai. The problem I am a single man, 52 years of age. How can I get into this community. I plan to move my mother in with me. She is 79, to take care of her. Do I have to add her on the title?
They require a qualified resident to be 55 or older to live in the home full time. I can live with that person.
Add her to title? Will that effect taxes? My tax payments?
My tax benifits at theend of the year???
I want to be the only one to be financilally responsible for the mortgage. Can I quick claim her name after the close of escrow?
Please advise. I do not want to pass on this house.

jameshogg · Posted: Sun Aug 23, 2009 9:38 pm Post subject:

Hi Zepln,

As far as I can understand, you will have to add your mother to the property deed in order to purchase a home in a 55+ community. Both of you can share the responsibility to pay off the taxes. As you will be paying the mortgage of the property, you can claim the tax deductions on it. I don't think you would be able to quitclaim her name from the property as it may make you ineligible to stay in that property.

Thanks

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