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  1. #1
    jnindel is offline Junior Member
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    Adding Someone To A Real Estate Deed

    What is the name of your state (only U.S. law)? Virginia

    I own a condo. Can I add someone (a relative) to the deed/title so that he/she inherits the property from me? If so, what are the tax implications? Is his/her share of the property considered a gift from me? Would I pay a gift tax? Would he/she? If so, when would it be paid? Or, would the person simply inherit the property from me? Thanks.
  2. #2
    tranquility is offline Senior Member
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    Unless you really want to give a gift of a present interest, I suspect your goals can be accomplished in Virginia with an Enhanced Life Estate deed. See a local attorney to prepare the deed and for advice on what that entails.
  3. #3
    jnindel is offline Junior Member
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    Adding someone to a real estate deed

    Thanks for the info. I am still interested in knowing what the tax implications are. I don't know if I should be setting up a meeting with a tax attorney or a real estate attorney or an attorney who specializes in wills and estates, or all three. I want to be somewhat prepared either way. Do you know what the tax implications are?
  4. #4
    tranquility is offline Senior Member
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    If an enhanced life estate deed, none.

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