Q: My mother recorded a B&S deed, adding me to title, as "tenants by entirety". Will this be legal?
mother/daughter now co-owners
A: It is legal but not very wise. If your mother dies before you, you will receive the home and you may have to pay capital gains taxes on the full sale price if you sell the home after your mother's death. There are other serious pitfalls of naming a child as co-owner of the property. I recommend that your mother contact an attorney to discuss establishing a revocable living trust.
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