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Warranty Deed to Child Reserving a Life Estate in the Parents Virginia Form

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Warranty Deed to Child Reserving a Life Estate in the Parents Virginia Form

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so there are many different reasons why a parent might want to transfer a house to a child it might be their residence and they're just sick of taking care of it or maybe their child lives with them and they want to transfer it to the child so the child can take over paying the property taxes or maybe they're making a gift to the child i know here in the bay area it's super expensive to buy property so maybe they want to help out so that can be a really wonderful gift to make to the child say here you go here's a house a starter house that you can start in but there's actually some pretty big problems that can come up if you own a house and then you transfer it to somebody else there's three tax reasons why i don't think this is often a good idea and before i dive into them i just want to do a little disclaimer if you have this particular situation and you're looking to transfer i suggest you meet with a real estate attorn

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