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- second home property transferred via quitclaim to relative
second home property transferred via quitclaim to relative
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dperhogan
Level 3
06-01-2022
07:08 PM
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Can someone transfer ownership via quitclaim to relative with no tax consequences? Property is second home purchased with cash. Owner wants nothing in return.
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Just-Lisa-Now-
Level 15
06-01-2022
07:19 PM
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You can give away a house.
A gift tax return is probably in order.
And the basis for the new owner would be the basis of the "seller".
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
A gift tax return is probably in order.
And the basis for the new owner would be the basis of the "seller".
♪♫•*¨*•.¸¸♥Lisa♥¸¸.•*¨*•♫♪
