<prompt> Human: My parents are considering buying a house and having me sign the papers for ownership. I am 22 and just graduated college with a full time job. There is 0 doubt that they will be able to fund it and pay for everything but I am struggling to understand why they want me as the owner. Also, they plan on leasing the place out. My questions are; why do they want me to do this and if there are any benefits in it for meThanks guys!Assistant: There are so many reasons why you need to not do this. Just one that springs to mind is that the rent paid by the tenants would technically be your taxable income.Edit: I realize my initial response is pretty short so maybe I should elaborate. You mention that they plan on leasing the place out. From that phrasing, I took you to mean that your parents intend to install a tenant and collect the rent from them. Under no circumstance do you want the income from the property, which would be your property, to flow to anyone but you or your duly appointed and supervised agent. Reason being, you will owe federal, state, and possibly local tax on that income. And you will also be entitled to deductions for depreciation and costs of maintaining the property. It can be complicated, so you definitely would want total control of it. But when you say they will rent it out, it implies that you wont have total control and possibly not even collecting the rents, which in my mind is a big N-O.Human: Thank you for the clarification. I dont exactly understand what their plan is. It seems like theyre planning on taking care of everything in terms of taxes and maintenance fees. However, I feel uneasy having all this happen under my name without me overlooking everything  <response>: I think an uneasy feeling is about right when youre being asked to participate in an undertaking that you dont understand. You are absolutely entitled to more information about their motivations. If this is meant as a gift to you, then there are other asset classes besides real estate you need to investigate. If this is meant as a way to advantage themselves in their real-estate investment business, then it is irregular and you need more understanding and control to even consider it. 