What is the name of your state? NY
My husband and I owned a 2 family investment property. We still have mortgage payment due and will be done in 2 more years. We are thinking to change the deed and title to our grown daughter who resides outside U.S. How is that done properly to avoid any further sale transaction problem in the near future? Can it be done quickly? How much will it cost for the deed title change? Will the title insurance company get involved? After the deed and title change, will it have any problem if my daughter sold the property later on within a short period of time? Or do you suggest we sell the property to our daughter for below the fair market value price? The bottom line is we want our daughter to sell the house as owner of the property, and We want to do it in a way that the sale transaction to third party later on will be smooth and hustle free. Thanks.
My husband and I owned a 2 family investment property. We still have mortgage payment due and will be done in 2 more years. We are thinking to change the deed and title to our grown daughter who resides outside U.S. How is that done properly to avoid any further sale transaction problem in the near future? Can it be done quickly? How much will it cost for the deed title change? Will the title insurance company get involved? After the deed and title change, will it have any problem if my daughter sold the property later on within a short period of time? Or do you suggest we sell the property to our daughter for below the fair market value price? The bottom line is we want our daughter to sell the house as owner of the property, and We want to do it in a way that the sale transaction to third party later on will be smooth and hustle free. Thanks.