Answered 6 years ago|
Generally speaking you would be adding your daughter as a "joint tenant" on the property. You can hold the property as a joint tenant in two ways: with or without "rights of survivorship." Rights of survivorship means that when you pass away the property becomes hers alone and passes "upon operation of law" at the time of your death. So the property would not be considered as part of your estate for purposes of probate. If you do not have rights of survivorship, then half of the value of the property would be included in your gross estate upon death. All you need to do is to have a new deed executed and filed transferring the property from you alone to you and your daughter. Seek some help. Good luck.
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 go to AttorneyPages.com
and retain an attorney to represent you.