Why am I on the title for my parents property?

[Jack Gilmore]

Hi all!

Big BP follower but just creating an account now because I haven't found an answer on here yet.

My parents are selling their home and are asking me to transfer the power of attorney over to them, provide SSN for 1099 tax, and allow them to sign off on the agreement. 

I am really confused because I'm not sure why I am on the title in the first place or what it means for me down the road. I can imagine it was for tax or credit purposes but I'm curious if this is going to hurt me down the road? When I try to buy a home in a year or so, is this going to hurt me? 

Any and all advice is appreciated! Really confused and looking for any direction

Thanks!

J

[Bryce Wong]

It is entirely possible that they could be owning two "primary residences" one in their name and the other in yours for tax reasons or otherwise. They might even have the other primary residence rented out somewhere. You should totally ask them to share their spoils since they might be benefitting from your position.