Can 2 names be on deed

[rojo]

I am researching buying a resale with my adult son, can both our names be on deed?

 

[GoofyDisneyDaddy]

Yes.

 

[D-Trick]

I would suggest digging a little deeper into the boards as there are threads with the pros and cons of adding your children (adult or not) onto the deed with you.

 

[supersnoop]

I am researching buying a resale with my adult son, can both our names be on deed?

You could have a hundred names on the deed. Whether or not you should is a different question.

 

[sndral]

I put my adult son on my DVC deeds.
The biggest advantage so far is that even though he has his own household he qualifies for a discounted AP, but that won't be applicable to new resale buyers.
He'll need to sign the contract when you buy. He'll be on the hook for MFs, if he runs into financial trouble the DVC contracts could be at risk.

 

[Dean]

I am researching buying a resale with my adult son, can both our names be on deed?

We put my adult daughter but not my adult son for some of the usual reasons including the risks involved. I think one needs to be very careful in this situation. One might do so just for a small amount realizing that contract will move to it's own separate entity and not be able to be used directly with the rest.

 

[rcchello]

If you have multiple names on the will you should consider what happens when one of the people dies. Do you want the property to be probated (go via intructions in the will) or immediately passed on to the surviving owner. In case one a lawyer probably has to get involved with the appropriate costs.

You could also have a trust buy the property with you and your son having appropriate powers over the trust and get the same benefit avoiding probate entirely. Each way has advantages and should be discussed with someone knowledgeable in these things.

 

[BillPA]

The main reason is so the child has the perks. With resale the perks you get don't matter so much. I don't see the value to add them, and expanding the risks.