I just purchased a home for my daughter. Should I be the only one on the deed or should she be on it as well?

This is a question best answered by your attorney!

As Steven touched on, a lot goes into the decision and it may be best to seek professional legal advice. Frankly, I don't see much downside to putting her name on the deed. From a lending perspective, she would be able to refinance the home into her name in the future if her name has been on title for a long period of time. If her name wasn't and she ever wanted to put the mortgage in her name, it would be considered her purchasing the home from you.

It depends on your goals. If she is on the deed, they she needs to sign off on anything you do with the property in the future. There are advantages of how the property will pass in the event anything ever happened to you if she is on the deed - this is an estate planning consideration that would require an attorney's advise. In Michigan (West Virginia may be the same) if she is on the Deed, then she would benefit from lower property taxes. If your goal is for her to eventually obtain her own financing on the property, then you will want to talk to a local lender to see what the best way to have it titled in moving into that part of the plan. Good luck with your decision.