Maryland  |  Real Estate Law

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1/12/12, 10:53 am

Legal Question


My parents added me to the deed of their house so I would get it should something happen to them. They have a first mortgage in their names only. Question 1, I want to buy the house, basically get a mortgage to pay off their first and have the house in my name only. Is that done like a normal sale since I'm already on the deed, or differently because I'm already on the deed? Question 2, I'm hearing that there should have been gift taxes paid with them adding me to the deed, is that correct?


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