Deed Realty

Hello all,


So my parents are home buyers looking for a house. Unfortuantely I am very sick and could not be at a meeting with my family and real estate. She said that the plan is to have my name on the deed and my parents make the loan. Can anyone explain in simple terms here ... WHAT DOES THIS MEANaa

it should not - your name is on the act - which means it will be less hassle for you if your parents go - it sounds like a gift. You can consult your tax person to see how it affects your gift tax. I know there are some rules, but I do not remember.

If they make you sign the contract, then there is a chance he may effect you credit if you do not have to pay the mortgage.