Pennsylvania | Real Estate Law
3/30/08, 6:17 pm
Legal Question
Adding a parent as joint owner
Hi,
My husband and I bought a condo two years ago and now have to move to another city. We don't want to sell it because we wouldn't make any profit on it right now. My mother doesn't own any real estate right now and she would like to move into our place while we are away and pay the mortgage, etc. I do not have any siblings and she is single. Can we add her as a joint owner? Or is it better for her to rent? What are the tax implications of each scenario? If she is a joint owner, can she claim all of the interest taxes since she would be making the payments?
Thanks!
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Read More Answered By: James Monaghan |
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