K
Kikimom
Guest
My husband and his father are in the construction business. My father in law has generously offered us land to build our first home. We have two children together. My husband mentioned the other day that it may be benificial/necessary to put the house and land in his name only. He mentioned gift tax, morgage applications,builder morgages and deed transferance as possible reasons. Would it ever be in my best interest to agree to this? My parents have always owned everything jointly and ave never heard of this before. I am concerned about how this effects me in the future and how it may effect my children. We have no debt problems and have good credit. Confused and unnerved about this. (We live in NY)