Homeownership with husband and in-laws

gr8ful321 said:

I have a complicated matter in which I would like input. The home that my husband and I live in is his (he pays for everything related to the home since day one) but the home is in his parent's name.

Then it is NOT his home. The OWNER is as determined by the name(s) on the title/deed.

It has been over 2 years he has lived here, and we are newlyweds of five months. We would like to deed our names to the home, but I read of things like penalties relating to large gift taxes for his parents.

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What you, or he, 'wants' has nothing to do with this.... at least without the agreement of his parents (the owners).

My husband and I signed a pre-nuptial agreement by mutual agreement stating what was ours prior to marriage remains, but he feels the house is both ours since I pay into it.

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Wanna' bet that 'feeling' would change if your marital status did??
At this point, you have NO claim on any part of the property.

In the eyes of the authorities, the house is his parents and not his, so technically, the house in which we live would not be part of the pre-nuptial.

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Correct. Nor would you have ANY right to claim ANY ownership.

My husband did this for financial reasons and we would like the home to remain in his parents' name.

What type of deed could we get so that my husband and I are added to the home and yet his parents are not penalized for taxes?

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There is NOTHING you or he can do about anything..... UNLESS his parents agree to the 'plan'. Simply, it is THEIR property.

If they do agree to transfer ownership, in part or whole, then I strongly suggest you AND they get (separate) attorneys to represent each party's interest in the transfer and to minimize any tax impact.

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