<prompt> Human: My father and I are both fiscally responsible and there is no risk of either of us trying to screw the other over in the future. Is there anything else I need to consider?We both currently have houses in IL and they want to purchase a house in AZ.Edit: Thanks for the great responses, I now understand that this is not a good idea.Assistant: Is this for inheritance purposes? If so, its a bad idea unless you plan to keep the house forever. If you inherit it through a will, your tax basis is the value at the time of their death. If your name is on the deed now, your tax basis is the value it was purchased at.Human: Yes, the main reason is for ease of inheritance.  <response>: Tell them you dont want to be on the deed now. It could potentially cost you tens of thousands of dollars in taxes later. 