When buying a property, if you want to write the names of two people on the title deed, do you need to pay more taxes?
Let's start with the answer: of course, you don't pay more taxes.
First of all, you need to understand the rules for writing your name on the title deed. Usually, only one person's name can be written on the title deed, but more than one name can be written on it. The advantage of having multiple names is that it allows multiple people to jointly own the property, and it also makes it easier to delegate or authorize the property when going through the relevant procedures.
Secondly, the addition of names is generally husband and wife or parents and children. The purpose of this is, on the one hand, not to let another person get hot-headed in the case of the house**;;On the other hand, it is also convenient for future inheritance.
But the name of the husband and wife on the real estate certificate also has drawbacks, once the husband and wife divorce, the house must belong to one party, in the case of not paying off the mortgage, the bank will not agree to one less person on the house, a reduction of one is equal to one less person to repay, in this case, when the other person buys a house again, even if it is a second house, the down payment ratio will increase, if you apply for public rental housing, you will also be rejected because you have a house in your name.
So, if you put the names of two people on the title deed, do you need to pay more taxes?
When buying a property, the tax is calculated based on the appraisal** of the home. If two people buy a property together, the tax will still be calculated based on the value of the property, not the number of names on the title deed.
Therefore, when buying a property, if you want to write the names of two people on the title deed, it will not result in you having to pay more taxes. However, it should be noted that there are pros and cons to deciding whether to increase the name on the house book on a case-by-case basis.