Legal Question in Real Estate Law in New York

Re: transfering of deed

the transfer is not complicated but the tax and estate conequences can be you can call me at 516 946 7100 for consultation

Re: transfering of deed

Your father and mother can deed their property to you, or place it in a living trust, with you as the survivor trustee.

Be aware that there may be gift tax and/or capital gains tax implications with either scenario.

Re: transfering of deed

You have several options. You could just get a Power of Attorney from your parents, which would allow you to act in their names. If you want to be on the Deed, which might possibly protect the house from creditors (this is a subject you might want to consider), I suggest making a new Deed from your parents to your parents and you and recording it. This is relatively easy and I can assist you if you want. Alternatively, they could merely name you in the Deed, but I strongly suggest if you are to be the sole owner that they make the transfer subect life estates for each of them, to protect that you cannot force them out. There are income tax consequences if they are removed from the Deed, and the house is eventually sold, as well as possible gift tax questions also. I would really need more information to guide you properly.