If my elderly parents own a home nd I would like them to add my name to the deed should anything happen to them, what is the best approach?
Get Legal Help Today
Compare Quotes From Top Companies and Save
Secured with SHA-256 Encryption
If my elderly parents own a home nd I would like them to add my name to the deed should anything happen to them, what is the best approach?
Asked on December 4, 2012 under Real Estate Law, Florida
Answers:
FreeAdvice Contributing Attorney / FreeAdvice Contributing Attorney
Answered 11 years ago | Contributor
I suggest that you parents consult with a real estate attorney about the matter that you have written about in that the mere adding of your name to your parents home could result in some gift tax issues for them that they never intended. They might consider just giving you a power of attorney over themselves and their assets in the event something happens to them.
IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.