Gifting commercial property back to us?Make Text Bigger
My wife and I are in our mid to late 60s, Our commercial property is in our daughter’s name (long story). She and her husband, who have a separate business of their own, now wish to have the property put back into my wife’s and my own names.
The (commercial) mortgage, LTV approximately 45%, is also in our daughter’s name.
Is it possible to have the property title changed over to us, and the mortgage? Rental income is almost double the mortgage payments. The alternative is to sell.
Any advice would be welcome.
Please Log-In OR Become a member to reply to comments or subscribe to new comment notifications.