I have a property on name my I want to gift it my son in law, who will pay the after gifting my son in law on this property??

Asked by Propertyexpert, Delhi, NY Tue Dec 27, 2011

I have a property on name my I want to gift it my son in law, who will pay the after gifting my son in law on this property?? Please guide me..

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James Ryan, Mortgage Broker Or Lender, Leesburg, VA
Wed Dec 28, 2011
hi Property,

I agree, its best to get legal advice from a good RE attorney. That being said, quit claiming or gifting the home to your son in law does not indemnify you from paying any mortgages on this property. Until the quit claim is registered at the courthouse, you will also be obligated to pay the taxes as well. That is my opinion, and should NOT be construed as legal advice as I am not an attorney.
Best wishes, Jim
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Anna M Brocco, Agent, Williston Park, NY
Tue Dec 27, 2011
It's really in your best interest to consult with an attorney who specializes in real estate for all related paperwork, and all legal questions related to the transaction; he/she can best guide you....
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