He won't see an attorney, the house is in his name with my deceased mother's name as well. He said I can have the house but won't change title. No help from sibling. What do I do?
Not quite following. Are you trying to sell the house before his death? Or make sure you inherit it? Has he also told your sibling(s) that you are going to receive the house? What does his will say?
Mrsbill, it is much better for you to receive the house if you are listed in the Will to get the house then to be joint owners on a Deed.
The reason being is Capital Gains Tax. If you inherit the house, when the time comes to sell the house, then the capital gains tax base will be the value of the house on the day that Dad passed.
If you change the Deed to joint ownership, when the time comes to sell the house, then the capital gains tax base goes all the way back to when your Dad had bought the house. If Dad had owned the house for many decades, there could be a hefty tax.
Also, if your name is placed on the Deed that could be considered a "gift", thus the IRS may have your Dad pay a Gift Tax.
Curious why you are so anxious about having the Deed changed. Are you thinking that maybe Dad didn't put into his Will that only you get the house?
You might be better off getting a Transfer on Death (TOD) deed. It is a deed specifying a beneficiary when the homeowners passes. You would not be an "owner" of the home until he dies. Also, if you get your name on the deed now, you might be required to pay full property tax as any exemptions he might have could be voided with you as a joint owner. My aunt is leaving me her home and we did a TOD and I'm specified in her will. If I were to get on the deed now, property taxes on the home would triple. If you don't do anything though and he passes without a will or TOD, his estate will go to probate and it can take years to clear everything up. It took another family member of mine 2 years to get thru probate to sell a loved ones home. I'd speak with a real estate attorney and even get your dad involved so he can be explained the hardship he could be putting you and siblings thru by not addressing this. Good luck!
The reason being is Capital Gains Tax. If you inherit the house, when the time comes to sell the house, then the capital gains tax base will be the value of the house on the day that Dad passed.
If you change the Deed to joint ownership, when the time comes to sell the house, then the capital gains tax base goes all the way back to when your Dad had bought the house. If Dad had owned the house for many decades, there could be a hefty tax.
Also, if your name is placed on the Deed that could be considered a "gift", thus the IRS may have your Dad pay a Gift Tax.
Curious why you are so anxious about having the Deed changed. Are you thinking that maybe Dad didn't put into his Will that only you get the house?