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quit claim deed

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elise Guest	Posted: Mon Sep 08, 2008 9:44 am    Post subject: quit claim deed Like 0 Dislike 0 My husband and I own a piece of property that is paid off and we want to quit claim it to his grandmother as a gift for all she has done for us. Will she have to apy taxes on it? ANd if she ever wants to give it back would we pay taxes on it? _________________ Need help choosing the right loan? Get free consultation from community lenders/consultant
helping_user Joined: 31 Mar 2006 Posts: 806 Location: Hawaii 158.49 Dollars($)	Posted: Tue Sep 09, 2008 1:58 am    Post subject: Like 0 Dislike 0 No, your husband's grandmother will not have to pay taxes on any gifted property. Rather you being the donor needs to pay tax if and only if you don't qualify for gift tax exemptions . Thanks.

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