Reasons not to add your child's name to the deed to your home
Linda: Hi. I have a friend who bought a house in Indiana, with a VA loan. But she was told by someone that she should put her son’s name on it, that when she passed away it would make it easier for her.
Attorney Tom Olsen: All right.
Linda: So her son’s name is on the deed, but the whole financing is in her name.
Attorney Tom Olsen: Okay.
Linda: Well, he got married and the house got small, so she moved back to Florida. And now she wants to move back to Indiana, but -- because the couple is not making the payments timely and the VA is calling her and telling her, “You know you have to make your payments on time.” And so she’s saying if she goes back to Indiana, they tell her she has to sleep on the couch and not bring her animals. If she wanted to sell the house doesn’t her son now have to approve of this sale --?
Attorney Tom Olsen: Yes. They are co-owners of this house, they both have an equal right to be there, she could not sell this house without the son’s signature. Adding her son’s name to the deed to her house was a big mistake.
Linda: Yes, that’s what I told her.
Attorney Tom Olsen: To all of the listeners out there, do not do it. If you’re looking for a way to avoid probate on your home there’s a much better tool for that called an enhanced life estate deed. And by the way, if you want information on enhanced life estate deed as a tool to avoid probate on your real estate or your home, you can call or text Chrissy anytime, at 407-808-8398. You can talk to her on the phone, she can send you a booklet on enhanced life estate deeds or, in fact, she can e-mail you a video of me talking about enhanced life estate deeds as a tool to avoid probate on your real estate. You can call or text Chrissy anytime, 407-808-8398.