@Jonster
It's important to consult a tax professional before you take any further action. You need to take into consideration what the tax effects will be when you and your spouse pass away. You might find that the tax effects of leaving your daughter on the deed, or taking her off the deed, are larger than you expected. Ask the tax pro the following questions.
- What would be the immediate tax effect for us or our daughter if we take our daughter off the deed now?
- If we leave our daughter on the deed, or if we take her off the deed, how will that affect the tax that she has to pay when she sells the condo after we pass away?
