Posted on: 08th Oct, 2010 02:34 pm
in california if the spouse transfer house ownership to wife, what happens with taxes?
Hi Guest,
Once the property is transferred to the wife, she will be responsible for the property taxes. If the property is transferred to the wife as a gift, then the husband will be responsible for paying gift taxes if he crosses the limit of $13,000 annual gift tax exemption.
Once the property is transferred to the wife, she will be responsible for the property taxes. If the property is transferred to the wife as a gift, then the husband will be responsible for paying gift taxes if he crosses the limit of $13,000 annual gift tax exemption.