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Would it be safe to put my paid house in my sons name?

Would it be safe to...
Would it be safe to put my paid house in my son's name?
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Answered in 1 minute by:
7/21/2013
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 55,810
Experience: Attorney with 29 years of experience.
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Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good afternoon. Can you tell me your goals? And, when you reference "safe"...what are your concerns? Thanks!
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Customer reply replied 4 years ago

my son would like to own my house. Will let me live in there till my death. Will pay ins. and taxes.

Thanks for your reply. If you are going to give him the house, I would suggest you give it to him, but reserve a life estate. That will entitle you to live there for your life and upon your death the life estate will automatically terminate and the title, minus the life estate, will vest in your son. This will protect you from your son ever changing his mind and after getting title telling you that you can no longer stay there. I know it seems unlikely, but as a lawyer, I must tell you the risk. Furthermore, I see this happening more often than I would like and I can only wish the parents would have taken my recommendation and retained that life estate!



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Richard
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Richard
Richard
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