Posted on: 13th Feb, 2013 10:56 pm
Hi,
I and my parents are house together. But, house is not in my name. How do my parents give part ownership to me? Do i and my parents to pay tax for ownership transfer? We live in south california
I and my parents are house together. But, house is not in my name. How do my parents give part ownership to me? Do i and my parents to pay tax for ownership transfer? We live in south california
Your parents can sign a quitclaim deed and add your name to the property. Once your name is added to the property deed, you will become one of the owners of the property. There are certain fees and charges that your parents may have to pay for ownership transfer.
Welcome lrchen,
If the property is free and clear, then you will be able to use a warranty deed in order to add your name to the house.
If the property is free and clear, then you will be able to use a warranty deed in order to add your name to the house.