Transfer of Ownership

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What is the best way to transfer ownership of a house of a parent to the children.
The mortgage has been paid in full and it will be a joint ownership.

 

[Tracey]

Ask this question on the estate planning board. You have gift tax issues, form of ownership issues, control of property issues, and 17 other things I can't think of right now.

Why not just leave it to them in a will?

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This is not legal advice and you are not my client. Double check everything with your own attorney and your state's laws.

 

[[email protected]]

Thank you, Tracey.

<BLOCKQUOTE><font size="1" face="Verdana, Arial">quote:</font><HR>Originally posted by Tracey:
Ask this question on the estate planning board. You have gift tax issues, form of ownership issues, control of property issues, and 17 other things I can't think of right now.

Why not just leave it to them in a will?

<HR></BLOCKQUOTE>