Legal Question in Real Estate Law in Texas

My mother and I have a joint bank account, we purchase a home in both our names, we want to transfer into my name only. Will there be any taxes to pay? And how would it have to be reported to the IRS. We live in Texas.


Asked on 6/27/11, 9:20 am

1 Answer from Attorneys
Mark Dunn Mark D. Dunn

Your mother can transfer her interest in real estate to someone else (you) with a deed. It gets recorded with the county clerk.

There shouldn't be any tax consequences.

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Answered on 6/28/11, 6:15 am


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