What is the name of your state? NY
Hi. I own a home with my mother. The deed just reflects our names and does not indicate what type of ownership it is held in. I am guessing it is "Tenants in Common" as I recall my attorney saying that at the closing 21 years ago! I am guessing it is implied as no where on the deed does it say that.
I would like to correct the deed to JTWROS. I have all the forms and a packet from my county. I have to file NYS "Transfer of Property" forms and there is an exemption schedule. There is a space for "contract date". "Selling Price", etc. The instructions say to put 0 if it doesn't apply so I am happy there are no tax ramifications.
My question is, what do I do if I wanted to add my husband and minor aged daughter to the deed? Do I have to pay tax? Thank you in advance for your help.
Hi. I own a home with my mother. The deed just reflects our names and does not indicate what type of ownership it is held in. I am guessing it is "Tenants in Common" as I recall my attorney saying that at the closing 21 years ago! I am guessing it is implied as no where on the deed does it say that.
I would like to correct the deed to JTWROS. I have all the forms and a packet from my county. I have to file NYS "Transfer of Property" forms and there is an exemption schedule. There is a space for "contract date". "Selling Price", etc. The instructions say to put 0 if it doesn't apply so I am happy there are no tax ramifications.
My question is, what do I do if I wanted to add my husband and minor aged daughter to the deed? Do I have to pay tax? Thank you in advance for your help.