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How does a Brother transfer Deed full ownership to sister?

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Donnajm Guest	Posted: Thu Sep 29, 2011 4:06 pm    Post subject: How does a Brother transfer Deed full ownership to sister? Like 0 Dislike 0 My husband is on the same deed of a home that his sister lives in. When his Mother died as part of the estate both names were put on the house. Now my husband wants to take his name off and give her sole ownership and sole deed on the house. How do you do this without any tax implications. He just wants his name off that is it. It is not a gift, it is not anything but only without consideration. Thanks in Advance, Donna
Guest	Posted: Thu Sep 29, 2011 7:38 pm    Post subject: Like 0 Dislike 0 Hi Donnajm! Welcome to forums! Your husband can sign a quitclaim deed and transfer the property to his sister. However, he may be liable for paying a transfer tax. If it is not a gift and if he sells off the property to his sister, then he will be liable for paying capital gains taxes depending upon the amount of profit he receives from the sale of the property. Feel free to ask if you've further queries. Sussane _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
smithsussane Joined: 18 Sep 2008 Posts: 10439 Location: Alaska 985.83 Dollars($)	Posted: Thu Sep 29, 2011 7:39 pm    Post subject: Like 0 Dislike 0 It was me above!! Just forgot to log in...

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