• FreeAdvice has a new Terms of Service and Privacy Policy, effective May 25, 2018.
    By continuing to use this site, you are consenting to our Terms of Service and use of cookies.

Jtwros

Accident - Bankruptcy - Criminal Law / DUI - Business - Consumer - Employment - Family - Immigration - Real Estate - Tax - Traffic - Wills   Please click a topic or scroll down for more.

hattana

Junior Member
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.
 


HomeGuru

Senior Member
hattana said:
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.

**A: this is not a do-it-yourself type of project.
 

Find the Right Lawyer for Your Legal Issue!

Fast, Free, and Confidential
data-ad-format="auto">
Top