Can I pay cash for a house in FL and put the deed in my sons name

I want his name to be on the deed at closing not mine so should the contract have my name on it

Vero Beach, FL -

Attorney Answers (3)

Carol Anne Johnson

Carol Anne Johnson

Real Estate Attorney - Saint Petersburg, FL
Answered

In addition to everything Attorney Deason has mentioned, you may also want to run that by your accountant to see if there are any gift tax issues in the transaction.

Carol Johnson Law Firm, P.A. : (727) 647-6645 : carol@caroljohnsonlaw.com : Wills, Trusts, Real Property, Probate,... more
Marshall C Deason Jr.

Marshall C Deason Jr.

Real Estate Attorney - Tampa, FL
Answered

Your question raises several issues. First, yes you can pay for property that is deed in your son's name. You can contract to do this either by putting the contract in your son's name or by putting it in your name putting a provision in the contract that you have the right to assign your contractual interest. However, in either event, if you are putting your cash in property titled in your son's name to hide it from your creditors, the deed can be set aside and your creditors can take the house from your son. While your situation seems simple on its face, there may be hidden issues. You should consult an experienced real estate lawyer in your area to make sure that what you are planning to do is actually accomplished.

Disclaimer: This answer is provided for informational purposes only, does not constitute legal advice, and does... more
Vincent J. Gallo

Vincent J. Gallo

Real Estate Attorney - Staten Island, NY
Answered

If your name is on the contract the seller should be compelled to put your name on the deed. Easy answer, have your son sign the contract if he is the intended grantee in any case.

Questions? An attorney can help.

Ask a Question
Free & anonymous.
Find a Lawyer
Free. No commitment.