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does a quit claim deed automatically considered as a gift?

smithsussane · Posted: Wed Jul 06, 2011 11:32 pm Post subject:

Hi singh!

Welcome to forums!

A quitclaim deed is not automatically considered as a gift. However, if no money is transferred during the change of ownership, then it will be considered as a gift transfer. This is irrespective of whether you use a quitclaim deed or a grant deed.

Feel free to ask if you've further queries.

Sussane

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