---

transfer the property to my wife only

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
chemdesign Joined: 04 Mar 2009 Posts: 1 1.26 Dollars($)	Posted: Wed Mar 04, 2009 7:18 am    Post subject: transfer the property to my wife only Like 0 Dislike 0 We both bought a property in Fl and own it. I would like to re-write it now to the ownership of my wife only. Do I have to sell or just grant it. What are the taxes of this transer? Do I need a layer.
jenkin7 Joined: 04 Jun 2007 Posts: 4537 Location: Hawaii 728.43 Dollars($)	Posted: Wed Mar 04, 2009 10:06 pm    Post subject: quitclaim and tax implications Like 0 Dislike 0 Hi chemdesign, You do not have to sell the property. You just need to sign a quit claim deed as a grantor transferring the title to your wife as grantee. You need to pay certain taxes like doc stamp taxes, transfer taxes etc. However, if you quitclaim it as a gift you can avail gift tax exemption upto a certain limit.

Quick Reply
Your Name
Subject
Image Verification	Enter the code above here : Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours

Page 1 of 1

---

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0