Home arrow Mortgage Forums arrow Deeds, Property Transfer and Estate Planning arrow

quit claim deed

Author Message
Julie

Guest







Post Posted: Fri Oct 05, 2007 8:41 am    Post subject: quit claim deed
Like 0
Dislike 0

does a quit claim deed allow the two parties to avoid paying taxes if the two parties are related?
Icon Mini Profile livinginnky
livinginnky
Moderator



Joined: 08 Sep 2007

Posts: 631

29.96 Dollars($)
Post Posted: Fri Oct 05, 2007 8:50 am    Post subject:
Like 0
Dislike 0

I don't completely understand your question. But when taxes are due there really isn't any way to get out of them. The tax man can take your home if you don't pay so they are by far the most important thing to pay when you have a mortgage.

Believe it or not even if you had a $1 million mortgage and you owed the taxes of say $100. The taxes can foreclose and force you to pay off the $100. This is how important it is to keep all taxes paid and up to date.

This scenario is unlikely however I am just trying to show that taxes are not to be messed with. They always must be paid if they are due.

I also would like to point out that even if a home owner leaves and taxes are due the next owner has to pay them or not get the house.

_________________
Eric Matthews

Mortgage Refinance and Home Loan Guide
Icon Mini Profile evolovik26
evolovik26
Community Expert
Community Expert

best lender badge

Joined: 15 Aug 2007

Posts: 537
Location: Minneapolis
28.93 Dollars($)
Post Posted: Fri Oct 05, 2007 7:39 pm    Post subject:
Like 0
Dislike 0

Dont ever try to cheat the government. They have 250 years of experience on you and ways to make you pay. Government will always get its money.
_________________
Eugene Volovik
Home Loan Consultant
Countrywide

612-481-3127
Conventional, FHA and Commercial Lending in 48 states
Icon Mini Profile liaoyu03





Joined: 09 Sep 2007

Posts: 166

4.48 Dollars($)
Post Posted: Sat Oct 06, 2007 9:24 am    Post subject:
Like 0
Dislike 0

if you think you can utilize your individual idea to avoide paying taxes, I will tell you not. though the quit claim deed is executed among the family members,but your problem is not allowed.the government can see through it.
Quick Reply
Your Name
Subject
Image Verification


Can't read the image? click here to refresh
Message body

All times are GMT - 7 Hours
Page 1 of 1

 
Refinance Quotes
Call for Rates
888-485-7561
Speak to a lender now.

We will match calls to our toll free number with our network of lenders.

Ask Questions
Community Attorney
Joshua Heard - Attorney Joshua Heard
Houston, Texas






Highlights
Helpful References
Mortgage Guide
Mortgage Terms
Mortgage News
Book Center
Shop and Compare lenders
30 Yr. Fixed Vs. 5/1 ARM


Our Community
MortgageFit Blog
Community Professionals
Community Rewards
Introduce yourself
Website tools


Community Rewards
Five simple ways to earn money with the Mortgage Community.

New and upcoming tools
Credit Repair Tool New
Mortgage Planner
Simple Budgeting Tool






Community Chat

We have chosen to apply the Creative Commons Attribution License to all works we publish. This work is licensed under cc by 2.0
Page loaded in 21.109 seconds.