My parents are currently living with me at my house in the state of Michigan. My other child is on the way, and we need bigger space. Iím attempting to purchase a second house and either I or my parents going to occupy the second home. In order to avoid the Non-homestead taxation, I have to put one of my parents name on the deed.
1- My question is what the best and easy way to record the deed in my & parent names?
2- What form or phrase I have to use to make sure in the event of my parentís decease the deed will be titled directly to me, in consideration of me having siblings?
3- Also in the event of my decease before my parent, the deed will be titled to my wife and kids as dependents.
I appreciate any advice in this matter.