Expert: Dottie Worthington - 9/14/2010

Question
My son, age 25   bought me a house in Texas with money he inherited. There is no mortgage on the house. He lives in Louisiana, and owns his house there.  Texas has a homestead exemption.  I'm 58 with an income.  The house in TX. is in his name, and I live here rent free, and he takes the real estate tax write-off on his returns because the house is in his name.  We realize the real estate taxes would be much lower if we switched the house to my name because of the TX Homestead Exemption, and I took the tax write-off on my return.  How do we do this?

Answer
You can contact a title compnay to transfer the deed into your name or go down to your county court house and do it together. He will have to sign the deed over into your name. You can get a Homestead and an over 65 exemption if you are over 65!

Good luck
Dottie Worthington