Is a survivorship deed legal in Pennsylvania?
2 attorney answers
I am very concerned when someone calls to ask to put someone else on their deed. I require that they come in and discuss it with me. Most of the time, those who are requesting it are concerned about inheritance tax that would be owed at the time of their death and want to avoid it. However, few of them are aware that PA inheritance tax on property passing to lineal heirs (children, grandchildren) is very low - only .045%. It is easier and cheaper just to do a simple will, leaving it to the desired heirs at the time of his death. If additional persons are added to the deed during his lifetime, the property owner could end up having the property sold due to the debts of the other person or persons, and if the other parties should divorce, the property will be divided between them regardless of his wishes. There is a lot of misinformation floating around out there about probate and avoiding probate. In PA, probate is quick and generally inexpensive.
Yes, he can record a deed conveying title to himself and the additional parties as joint tenants, with right of survivorship. However, he may want to consult with an attoreny experienced with real estate and estate planning to make sure he understands all implications of doing so.