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quit claim deed in Kentucky

Posted on: 13th Jun, 2012 05:25 pm
My Mother and purchased a house in Kentucky 1 year ago as joint tenenats. She wants to quit claim the house to me. If she does will I have to pay any taxes.
Hi jan!

Welcome to forums!

If your mother quitclaims the property to you as a gift, then she will be liable for paying the gift taxes. You won't be liable for paying that tax.

Feel free to ask if you've further queries.

Sussane
Posted on: 13th Jun, 2012 08:00 pm
Hi jan,

You can contact a tax adviser and he will be able to let you know about the taxes in details, if any.

Thanks
Posted on: 14th Jun, 2012 09:58 pm
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