Are you considering putting your property in the name of your kids (by selling or donation) as some sort of succession planning tool?
We hear this all the time. Parents buying properties, thinking of their children’s future, putting it in the names of their kids so that even as kids, they already have assets.
So our question for today comes from Lani H, and she writes:
“Attorney, If parents sold the property to one of their children; do they need other children's consent? It is useful because nowadays, one sibling can just persuade his/her parents to sell their property to him which serves as a home to other siblings. When the Deed of Sale is executed and the ownership is transferred, the sibling who bought the property can evict even his parents and his other siblings.”
If you were wondering about the same thing, stick around.
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The information contained in this presentation is provided for informational purposes only, and should not be construed as legal advice. We do not guarantee any results, and the information on this presentation may not constitute the most up-to-date legal or other information. you should not act on the basis of any content included without seeking legal or professional advice. Only your attorney can provide assurances that the information contained herein - and your interpretation of it - is applicable or appropriate to your particular situation.
