If you are thinking about deeding your home to your children, you should know several things before you sign over a deed.  Deeding a home to a child may seem like a good way to avoid probate and inheritance taxes; however, it could also create more problems than it solves. For instance, even though your children will be on the deed to your home, they are under no legal obligation to pay the mortgage payments.  Therefore, if you are unable to pay the mortgage the bank can still foreclose and sell the home even though the deed is not in your name.

For more about deeding your home to your children read, “What to consider when giving home to children.”