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All Forum Posts by: Jack Gilmore

Jack Gilmore has started 1 posts and replied 3 times.

General Real Estate Investing

Post: Why am I on the title for my parents property?

Jack GilmorePosted
  • Grand Rapids, MI
  • Posts 3
  • Votes 0

Thanks @Andrew Ware very helpful!

0 Votes
General Real Estate Investing

Post: Why am I on the title for my parents property?

Jack GilmorePosted
  • Grand Rapids, MI
  • Posts 3
  • Votes 0

Appreciate the input @Bryce Wong. @Daniel Baker I have spoken to them but am interested others perspectives.

0 Votes
General Real Estate Investing

Post: Why am I on the title for my parents property?

Jack GilmorePosted
  • Grand Rapids, MI
  • Posts 3
  • Votes 0

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

0 Votes