Changing Names on a Deed

[Ken Radino]

Hello fellow BP members,

I have a personal question to ask:

My In-laws own a townhouse close to my residence. My father-in-law just recently passed away to bad health. My mother-in-law wants to add my wife to the deed of the townhouse in case. Do we need a real estate lawyer to make this transaction, or can a title company do it? Also, does anyone know the costs involved? I live in Missouri, so if anyone local can help out, I would greatly appreciate it.

We have thought about her leaving it in a trust, but she may move and we want to be able to rent it out without becoming an "employee"(MO law) of her.

Thank you!

[NA Foster]

Will a gift tax apply???