Transferring Houses

[missmanors]

Parents should be aware of some of the risks of transferring homes and real estate to their children outright. Doing this can cause a lot of problems for the child, that can be avoided.

For estate-planning purposes, my parents have transferred the title of their main residence and summer house to me. I'm wondering whether I could be sued should anyone be hurt on the properties. Do you have any recommendation as to how to handle these two properties?

By ILYCE GLINK

Before you transfer any real estate to your children, seek the advice of your attorney to be sure that you avoid making a mistake that could cost your loved ones unnecessary problems.

Transferring Houses

[badmomma]

That is very interesting information. I am glad that you posted it.
Thank you for doing so. I will keep all of this in mind and make my
plans for my properties accordingly. It is important to keep yours and
your families financial health in mind when you decide to do things like
this. It is also important to consult an attorney or tax advisor before
you make a major mistake.