Get Se Resolution Outcome Revised Form 6 2 11.doc - Documents Dgs Ca

When you own a home, the deed is the physical document that proves ownership. The title is the concept of legal ownership that the deed grants you. You can think of the deed as the document that transfers, or passes on, the title or the right to ownership. When you buy a home, you need both.

Many people might see this as a simple method of estate planning. However, it may be a bad idea. Depending on the type of deed, your and your parents' finances, and other factors, this could subject you to tax liability and affect your parents' Medicaid eligibility.

Another troubling complication arises when you add a person to your deed—they become a legal co-owner of the house. This means they would have to consent to the sale of the home or take out a mortgage or home equity line, etc.

Pros: It's a straightforward way to make sure your child has real property. Allows you to avoid probate without a will if you have no other assets.

In Sacramento, call (916) 874-6334. To transfer ownership, disclaim ownership, or add someone to title, you will choose between a “grant deed” and a “quitclaim deed.” Spouses/domestic partners transferring property between each other may choose an “interspousal deed.” Blank deeds are available at saclaw.org/forms.

Can my parents put me on the deed to their house? Your parents can put your name on the deed to their house. Many people might see this as a simple method of estate planning. However, it may be a bad idea.

Many people believe that by placing their assets in their child's name before they die, they can avoid probate court and make things simpler for their children after they die.

To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own. We also recommend that you get title insurance.

When you own a home, the deed is the physical document that proves ownership. The title is the concept of legal ownership that the deed grants you. You can think of the deed as the document that transfers, or passes on, the title or the right to ownership. When you buy a home, you need both.

Many people might see this as a simple method of estate planning. However, it may be a bad idea. Depending on the type of deed, your and your parents' finances, and other factors, this could subject you to tax liability and affect your parents' Medicaid eligibility.

Another troubling complication arises when you add a person to your deed—they become a legal co-owner of the house. This means they would have to consent to the sale of the home or take out a mortgage or home equity line, etc.

Pros: It's a straightforward way to make sure your child has real property. Allows you to avoid probate without a will if you have no other assets.

In Sacramento, call (916) 874-6334. To transfer ownership, disclaim ownership, or add someone to title, you will choose between a “grant deed” and a “quitclaim deed.” Spouses/domestic partners transferring property between each other may choose an “interspousal deed.” Blank deeds are available at saclaw.org/forms.

Can my parents put me on the deed to their house? Your parents can put your name on the deed to their house. Many people might see this as a simple method of estate planning. However, it may be a bad idea.

Many people believe that by placing their assets in their child's name before they die, they can avoid probate court and make things simpler for their children after they die.

To add, remove, or change a name on a deed, have a lawyer, title company, or other real estate professional prepare the deed. Then, record the new deed with the Department of Records. Note: We recommend that you do not prepare a deed on your own. We also recommend that you get title insurance.