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Hi,

Hoping to get some advice. When hubby and I got married, we joined all finances but somehow overlooked the deed to the house.

How much would it cost to have me added to the deed?

If I don't get added and something happens to hubby, and I "inherit" the house, does that mean I have to pay extra taxes?

Thanks
 

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I can't comment on cheapest way to get this done.

As to taxes, assuming this is Principal Residence for both of you, and remains that way, there are no income tax implications. However, it will pass through his estate (rather than directly to you outside of the estate), which makes it subject to probate fees, and may increase the legal fees to probate the estate as well.

There are provincial laws protecting your rights of ownership in the matrimonial home, but it is much better all around if you tidy up this detail and put it into joint ownership.

PS You might get better response on the title transfer question on the Real Estate Forum
 

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OhGreatGuru is right - you will save on the probate fees if you have joint ownership.

I would imagine it would be less hassle as well.

We had it done a few years ago and I think it cost something like....umm..$400? Or maybe a bit less - not 100% sure. :)

Regardless, it's not a huge amount of moola.
 
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