Legal Question in Real Estate Law in Maryland

Re: Add parents to my deed

You didn't indicate what your question about your plan was. To accomplish it, you will have to prepare, or have an attorney prepare for you, a proper deed of conveyance. To avoid paying transfer and recording taxes, the deed should clearly indicate that it is a transfer between child and parents.

However, doing this will tie up your property if you later decide to sell it and either parent objects. Also, there may be gift taxes imposed on this transfer, depending on the value of the property and your other property. If you were to die before them, their basis for tax purposes in the property will be lower than it would be if you left them the property in your will, so they would pay higher capital gains taxes if they then sold the property.