Input Age Deed For Free

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.

How do I add someone to my deed? You need to pick up a Quit Claim Deed form at any office supply store such as Office Max or Office Depot, or you can get one at the Register of Deeds Offices. You can also access our forms page by clicking HERE.

For a deed to be legal it must state the name of the buyer and the seller, describe the property that is being transferred, and include the signature of the party that is transferring the property.

A grantor may make a gift of property to the grantee, and use a grant deed form or a quitclaim deed form for the purpose. Grantor may, but need not, say in the deed that grantor makes the transfer because of love and affection for the grantee.

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.

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.

Adding a child to a deed of house means that the child has an ownership stake in the house and is therefore entitled to a portion of the proceeds if the house is sold.