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Removing name from deed - tax implications?

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chilltocam
LIF Adult

Member since 11/11

9141 total posts

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Removing name from deed - tax implications?

We are thinking about removing DH's name from the deed to our house - because his potential exposure to liability is a lot greater than mine, so it would be to avoid any potential exposure of assets in the future, not because there is something happening now. Actually changing the deed is not complicated, but does anyone know if there are any tax implications? Right now we own the property as joint tenants in the entirety

Thanks

Posted 4/2/16 10:14 PM
 
Prudential Douglas Elliman Real Estate
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LSP2005
Bunny kisses are so cute!

Member since 5/05

19458 total posts

Name:
L

Re: Removing name from deed - tax implications?

I would speak to an attorney about putting the home in a trust.

Posted 4/2/16 10:19 PM
 
 
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