Answered 4 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.
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