My son paid cash and he has clear title.
He's giving it to her. There is no consideration. The value of the house is approximately $85,000. She will be living there. My wife purchased the house for my son and she wants our daughter to be on the title as well.
no. I didn't know that there would be a gift tax.
Unfortunately my son is unemployed and will have no income in 2013. The plan is joint owner with "survivorship Rights."