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can property be attached

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Icon Mini Profile fbove





Joined: 18 Oct 2010

Posts: 1

1.27 Dollars($)
Post Posted: Mon Oct 18, 2010 3:58 pm    Post subject: can property be attached
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Is any taxes payable if I quick claim deed 2 properties to my son that are located in FL $250K

I am involved in a possible short sale in NY. Can bank holding the only mortgage I have in NY attach these properties if deeded to my son?
Icon Mini Profile smithsussane
smith.sussane




Joined: 18 Sep 2008

Posts: 10439
Location: Alaska
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Post Posted: Mon Oct 18, 2010 8:41 pm    Post subject:
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Hi fbove!

Welcome to forums!

You'll be liable for paying the stamp doc fees, deed recording fees, transfer taxes etc., when you transfer your properties to your son. As the properties are located in New York, I don't think that the Florida based lender will come after them.

Feel free to ask if you've further queries.

Sussane
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