In this brief advisory video, Jerry Taylor warns homeowners against adding their children's names to the deed of their residence. He explains that doing so makes the children partial legal owners, which means the homeowner cannot sell the house without the children's consent, and the children can independently sell or borrow against their share. Consequently, the property becomes vulnerable to the children's creditors, lawsuits, bankruptcies, criminal restitution claims, and ex‑spouses. Additionally, if the children later sell the home, they may incur capital‑gains tax liabilities. Taylor emphasizes that while adding a child's name is cheap and easy, the potential financial and legal costs far outweigh any perceived benefits.
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