Putting Parents On Title To Protect Asset?

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    Blair |

    Posted 1 Week Ago

    1 Posts Total

    Hey all,

    I'm a single person that is buying a house in Washington and it will just be me on the mortgage. I'm an only child and are very close to my parents, so I was thinking if there are any advantages of putting them on the title.

    One consideration is if I get married in the future, and god forbid I go through a divorce, then there will be more ownership interest on “our side of the family” instead of it being split 50/50, esp. if they help with a couple mortgage payments here and there.

    However, not sure if there are any major downsides such as tax issues when we sell.

    Thanks all.

    Blair

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