---

Adding daughter & spouse to deed (and more)

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
grandpa_D Guest	Posted: Mon Sep 27, 2010 2:13 pm    Post subject: Adding daughter & spouse to deed (and more) Like 0 Dislike 0 I recently purchased a home in Benicia, CA that my daughter & her husband will move into fairly soon, then purchase outright within the next two or three years. To take advantage of some of the rebates currently available (e.g., furnace) the property needs to be owner occupied. Can the kids "buy in" at a low percentage of the ownership (say 5%) and qualify for the credits? And how do you go about making the change legal and official so my wife & I retain the remaining 95% ownership and the kids become legitimate part owners. _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10436 Location: Alaska 985.39 Dollars($)	Posted: Mon Sep 27, 2010 7:53 pm    Post subject: Like 0 Dislike 0 Hi Guest! Welcome to forums! You can add your daughter and her husband to the property with the help of a quitclaim deed. This will make them part owner of the property. You can contact a real estate attorney and he will help you in drafting the deed so that your kids gets 5% ownership of the property. Feel free to ask if you've further queries. Sussane
grandpa_D Guest	Posted: Mon Sep 27, 2010 10:32 pm    Post subject: Like 0 Dislike 0 Thanks, Sussane. I read a bunch more about quitclaim deeds after I posted and was guessing that would be part of the answer. Good to have your confirmation; now, off to find a good real estate atty.

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0