Adding Name to Title and Refinancing

04-06-2005, 11:36 PM

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Join Date: Apr 2005

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Adding Name to Title and Refinancing

What is the name of your state?Nevada

My parents would like to sell me their house, on which they owe a mortgage with pretty steep rates. They don't believe they would qualify for a refinance and would rather sell the home to me at a price high enough to pay off the current mortgage. My bank suggested that I have them add me to the title and then refinance the property under my name. Is this legal? If so, would my parents portion of ownership be taxable upon their death?

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