Aestar LLC supervises the sale transactions, verifies legal documents, and insures real estate titles.
Aestar LLC is a different title company. Aestar offers knowledge to protect consumers: buyers and sellers.
To avoid probation, many people add their child’s name on the deed to their house. The disadvantages outweigh the advantage of avoiding probate. For example, you lose the control of your house; your child’s heirs or loved ones inherit your house; child’s creditors. Additionally,
- Gift Tax – Adding your child’s name on the deed indeed is your gift to your child. As long as your child’s share of the value of your house is more than the annual exclusion for the calendar year, you, the donor, is responsible for paying the gift tax. You must file a federal gift tax return.
- Capital Gain – to continue.
Contact me should you have further questions.
Jonathan Kan, Licensed Title Producer/Notary Public
Aestar Settlements LLC
15881-B Crabbs Branch Way, Rockville, MD 20855
C: 240-351-6098 F: 888-501-3060 E: [email protected]
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This column is not legal advice and should not be acted upon without obtaining your own legal counsel.
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