<prompt> Human: So im from NY and My mom wants to buy a house in NJ, She also wants to add my name to the house as co-owner. this house will be 100 my parents and I will not contribute any amount to it.Is there any downside to it? What is to happen if i decide to buy a house X years down the road. When the bank runs my stuff they will see that I currently have that house on my name, I guess thats what worrys me.  <response>: one downside may be your future qualification for any 1st time home buyer benefits. 