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My Mom

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Carly Guest	Posted: Mon Jan 28, 2008 8:05 pm    Post subject: My Mom Like 0 Dislike 0 My Mom is 80 and her health is poor. She owns her house outright and pays the taxes as a senior. If we quitclaim the house into our (3) names, will the house be reassessed and the taxes imposed upon us and our ages? Thank you.
sara Moderator Joined: 05 Jul 2006 Posts: 2645 Location: New Brunswick, New Jersey 488.43 Dollars($)	Posted: Mon Jan 28, 2008 9:30 pm    Post subject: RE: reassess taxes after quitclaim Like 0 Dislike 0 Hi Carly, Welcome to the forums. If you quitclaim the house into your names, chances are that your house may be reassessed for tax purposes. It depends more on the state where you are in. You can consult the local tax assessor or property tax collector for the exact detail. Take Care
bthahir Joined: 05 Sep 2007 Posts: 36 13.34 Dollars($)	Posted: Tue Jan 29, 2008 7:31 am    Post subject: Taxes Like 0 Dislike 0 Yes the house will be reassessed and the taxes will be imposed on you. As long as your mother owned the property, she had the privilege of a senior citizen but for you people it will not be possible.
jheard Moderator Joined: 12 Dec 2007 Posts: 734 Location: Houston, TX 116.72 Dollars($)	Posted: Tue Jan 29, 2008 8:18 am    Post subject: Like 0 Dislike 0 Look into putting the property in a living trust. You can pass title without a reassessment and probate.

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