L
littled
Guest
What is the name of your state? Illinois
I want to remove my parents from the mortgage and title of my house and put my wife on both. I have been encouraged by my parents to do this. There is over $100,000 of equity in the house. The down payment and all mortgage payments have been made by me. Are there any tax implications in making the change, i.e. gift tax?
I want to remove my parents from the mortgage and title of my house and put my wife on both. I have been encouraged by my parents to do this. There is over $100,000 of equity in the house. The down payment and all mortgage payments have been made by me. Are there any tax implications in making the change, i.e. gift tax?