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Updated about 8 years ago on . Most recent reply
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College housing and gaining residency questions
We're looking for some answers if anyone can offer insight, experience or help.
Youngest of 4 children is a freshman in NC. We live and work in NY. We found a house to buy in her college town. She is 18, has worked every summer, not working currently.
Is there a way we can structure this so she gains residency? We'd 'gift' her the house or set it up in a trust. Does her name have to be on the deed to gain residency since we obviously don't live in NC. I'll be doing that research with the college but in the meantime, I thought I'd ask here.
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Thank you @Anthony Davis for your answer. We checked with the NC college residency requirements and the only thing we are questioning now is if she'd be kicked off of our health insurance if she was made an independent and removed from our taxes. They NC system is specific but also takes each case individually.
(At the end of the day, the house would still be a savings because we wouldn't be paying $6000 for her housing costs to another entity.)