tax on property

What is the name of your state? new york
if my mother adds my name to the deed of her home are there any tax implications? there is a small mortgage on the prop and we intend to refinance and buy her out. she plans on selling it to us at a discount of 25%.
thank you

If she puts your name on the deed, it is a gift. She would need to file a gift tax return. Also, calculating your basis will be a nightmare (part gift, part purchase). Why does she need to put your name on the deed if you're buying the house? The deed will be changed to your name when you buy the house.