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vincent_x0x0x0 · Joined: 20 Jan 2009 Posts: 1 1.38 Dollars($)

I want to do a quit claim deed to take my name off a propety. Will I be liable taxes?...My brother in law, my sister and I own a property in Sacramento. I want to prepare a quit claim deed to take my name off the property. Will I be liable for any taxes?

Niicss · Posted: Wed Jan 21, 2009 2:50 am Post subject:

Hi vincent

Once you file a quitclaim deed and get it notarized and recorded, you will not be liable for the property taxes. However, there are certain transfer fees and doc stamp fees which you will have to pay when you record the deed.

Thanks.

Posted: Wed Jan 21, 2009 10:23 am Post subject: Thanks for the reply niicss

I am not concern about the property taxes. I am concern about gift taxes. Will I be liable for any federal or state taxes?

Posted: Thu Jan 22, 2009 12:14 am Post subject:

Yes, you will be liable for the transfer taxes but I don't think you will have to pay gift taxes as you are transferring the property.

Guest

where do i get one and where do i file it

smithsussane · Posted: Wed Oct 20, 2010 10:01 pm Post subject:

Hi donnaj!

Welcome to forums!

You'll have to contact a real estate attorney in order to get the deed drafted. You will have to record the deed at the county recorder's office.

Feel free to ask if you've further queries.

Sussane

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I want to do a quit claim deed to take my name off a propety

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