---

Quick claim deed for paretns

Author	Message
	Add to del.icio.us Add to YahooMyWeb Add to Simpy Add to BlinkList
Billy Guest	Posted: Thu Jun 05, 2008 11:47 am    Post subject: Quick claim deed for paretns Like 0 Dislike 0 My parents are ill and they are quick claiming me their house!!! Do I pay taxes on the house or do they.
Jeanette Community Expert Joined: 19 Oct 2007 Posts: 121 Location: 760 Lynhaven Parkway, suite 140 Virginia Beach, Virginia 36.28 Dollars($)	Posted: Fri Jun 06, 2008 4:30 am    Post subject: Like 0 Dislike 0 Hello Billy, Welcome to the Forum, Very sorry to hear about your parents being ill. Once the property is quit claim over to you, then you will have to refinance to put the mortgage in your name. Then you will be solely responsible for the the escrows. (taxes and insurance) along with the Principle and Interest.(mortgage payments) each month. Thanks/Goodluck Jeanette Smith Mortgage Planner Union Mortgage Group "www.union-mtg.com" [Link deactivated as per the forum rules] _________________ Life is like a bull grabit by the horn
jheard Moderator Joined: 12 Dec 2007 Posts: 734 Location: Houston, TX 116.72 Dollars($)	Posted: Fri Jun 06, 2008 1:22 pm    Post subject: Like 0 Dislike 0 They are responsible for the gift taxes, if any. You will become responsible for the property taxes once you take ownership. _________________ Disclaimer: This is not legal advice and I am not your lawyer. The information provided in this forum is for discussion purposes only, and is no substitute for an in-person consultation with an attorney who can analyze all of the facts and determine how your state and local laws may apply to your specific situation.

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