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Updated over 8 years ago on . presented by

Sean Forner's profile image
Sean Forner's profile image
Sean Forner
  • Lender
  • from Mount Airy, MD
  • Member since May 27, 2016
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52
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Sean Forner's profile image
Sean Forner's profile image
Sean Forner
  • Lender
  • from Mount Airy, MD
  • Member since May 27, 2016
Connect
Sean Forner
  • Lender
  • Mount Airy, MD
3
Votes |
52
Posts
Tax, SDIRAs & Cost Segregation

Title transfer

Sean Forner
  • Lender
  • Mount Airy, MD
Posted

I just purchased my first rental property. My father took out the loan with my mom as a co-borrower. I was placed on the title, but not the mortgage. My parents want to remove themselves from the title and give me full and clear tiitle. How should we go about doing this and how should we record rental income for the first year and record taxes?

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