Property Ownership
An Indiana homeowner who adds their adult child to the deed as a co-owner using a quitclaim deed has:
AOnly created a future interest for the child
BMade a taxable gift (potentially) and created an immediate joint ownership that may affect Medicaid planning and property tax exemptions✓ Correct
CSimply authorized the child to sell the property
DCreated a life estate automatically
Explanation
Adding someone to a deed transfers an ownership interest immediately. This may constitute a taxable gift (over the annual exclusion), affect Medicaid eligibility for the transferor, impact homestead exemptions, and create jointly owned property subject to the new co-owner's creditors.
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