Putting Your Properties In The Name Of Your Kids

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.

This video was brought to you by the free Legal Guide to Estate Settlement documents. It's a checklist of the documents you will need when settling the estate of a loved one.

Grab your free copy at info.legalguide.ph/estatedocuments today.