Submitted by jilzee31 on Mon, 01/23/2012 - 12:39
Transfer of title of property
Transfer of title of property
Can I quit claim deed my portion of a property if there is a Federal Tax Lien on it?
I was left a small portion of an income property when my parents passed. I am wondering if I can transfer it into one of my daughters name since it will pass to her after I pass? If by chance the property is sold before I die what would happen if it's out of my name?
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Hello jilzee3,
The only way the house can be sold is if everyone who's name appears on the property consents to the sale (including yourself).
Property passes to the new owner because of the way property was titled or who was named as beneficiary (your daughter would be the benificiary).
Hope i could help!
Pete Kolackovsky
http://www.mortgage-calgary.com">http://www.mortgage-calgary.com
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You may transfer the property to your daughter but the Federal tax will remain on the property. You or your daughter will have to pay it off in order to get rid of the lien on the property.