My dad and I own a house together with both our names on the deed. It’s an ownership by survivorship. I live at the house and have a $150k mortgage in only my name. In a fear that my dad will end up needing a nursing home over the next 2 years, he wants to pay off my mortgage.
Are there any tax implications for this such as a gift tax since both our names are on the deed? He has given me $15k these last two years too as gifts.
Submitted April 05, 2020 at 05:59PM by Life0fRiley https://ift.tt/2x8ChIq
