Posted on: 06th Jul, 2011 07:36 pm
does a quit claim deed automatically considered as a gift?
Hi singh!
Welcome to forums!
A quitclaim deed is not automatically considered as a gift. However, if no money is transferred during the change of ownership, then it will be considered as a gift transfer. This is irrespective of whether you use a quitclaim deed or a grant deed.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
A quitclaim deed is not automatically considered as a gift. However, if no money is transferred during the change of ownership, then it will be considered as a gift transfer. This is irrespective of whether you use a quitclaim deed or a grant deed.
Feel free to ask if you've further queries.
Sussane