The process of including a offspring’s name on the legal document that proves ownership of a residence involves transferring partial ownership to the individual. For instance, a homeowner might decide to make their adult son or daughter a co-owner of the property they reside in.
This action can be undertaken for various reasons, including estate planning, potential tax advantages, or to provide a child with a sense of security and ownership. Historically, this has been a common strategy within families to ensure the smooth transfer of assets and avoid potential complications associated with inheritance.
