Get free answers to your legal questions from lawyers in your area.
I am considering being added to my brother's home title and mortgage for a property located in Fremont, California. We plan to share financial responsibility for the mortgage equally (50-50). Will this trigger a gift tax for my brother? Additionally, are there any complications in getting this... View More 
Lawyers, want to be a Justia Connect Pro too? Learn more ›
answered on Mar 24, 2025
Yes, being added you to your brother's home title will likely trigger a gift tax for your brother, as it constitutes a transfer of property interest. The value of the gift will be based on the fair market value of the 50% interest in the property. If the value exceeds the annual exclusion... View More
Justia Ask A Lawyer is a forum for consumers to get free answers to basic legal questions. Any information sent through Justia Ask A Lawyer is not secure and is done so on a non-confidential basis only.
The use of this website to ask questions or receive answers does not create an attorney–client relationship between Justia and you, or between any attorney who receives your information or responds to your questions and you, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask A Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.
Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises, or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.
