CR-1 Financial Proof - Parent to Children Home Title Transfer Question

[dontlongdistance 0]

Hi guys,

My sister who was supposed to be our joint sponsor is hesitant about co-sponsoring and has suggested transferring our parents house title under our names. In the event that she decides not to co-sponsor anymore, does anyone know, for Orange County, California, what the best method is for the house title to be transferred to the children with out any tax repercussions? Also what is the transfer time period approximately?

[Kastrs 723]

If this home is your primary residence it cannot typically be used as assets. The difference between the home value and any outstanding mortgage is also something to consider, and if there is a mortgage on the house in general you will need to get a new mortgage in your name in order to have the title of the house under your name. Also, I believe the Philippines does not accept co sponsors for K1 visa.

[dontlongdistance 0]

Hi Kastrs,

Thanks for your advice. The house is already paid off. I do live here, so that still means it can't be used as an asset? What do I have to do in order for it to be? Move out? I'm also considering making it a rental property. Also for CR-1 visa co-sponsor is allowed.

Edited September 16, 2015 by tittywafflez

[Ryan H 3,925]

Hi Kastrs,

Thanks for your advice. The house is already paid off. I do live here, so that still means it can't be used as an asset? What do I have to do in order for it to be? Move out? I'm also considering making it a rental property. Also for CR-1 visa co-sponsor is allowed.

The only way you could use the house as an asset is if it's not your primary home and you have legal title to it.

To dispatch with the semantics, joint sponsor is the proper term when referring to the Affidavit of Support in spousal visa cases, not co-sponsor.

By law, joint sponsors are allowed when an immigrant visa is being sought, a CR-1 is an immigrant visa. All Embassies and Consulates follow the law in this regard.

[dontlongdistance 0]

I was told that transferring a house to me from my parents would be ineffective since it was after filing for a visa and also since I reside in it, but does that still apply if my parents are the joint sponsor using the house as asset if they don't live here currently? Also, can assets outside the U.S. be used? Such as one property they have elsewhere, which they reside in, and one they don't?

Notes:

We are doing marriage visa CR-1.

Philippines to California, U.S.

Parents living in Taiwan.

Edited September 17, 2015 by tittywafflez

[dwheels76 5,486]

I was told that transferring a house to me from my parents would be ineffective since it was after filing for a visa and also since I reside in it, but does that still apply if my parents are the joint sponsor using the house as asset if they don't live here currently? Also, can assets outside the U.S. be used? Such as one property they have elsewhere, which they reside in, and one they don't?

Notes:

We are doing marriage visa CR-1.

Philippines to California, U.S.

Parents living in Taiwan.

First f your parents do not live in US they can not be your joint sponsor on the I-864 Affidavit of Support. Thy have to be domicile in US. The property if you live in it you can not use as an asset and transfer to you because its your primary home.

[Ryan H 3,925]

***Similar topics merged.***

**Moderator hat off**

Joint sponsor's must be domiciled in the US, if your parents don't live in the US, they cannot be joint sponsors.

Property outside the US is likely to be disallowed since it may not be able to be liquidated within one year should the requirements of the I-864 not be met.