Posted on: 27th Oct, 2008 07:45 am
I live in orlando florida and my husband and myself would like to do a quick claim deed as a gift to my parents but the loan will remain in our name. Can this be done as a gift and what doc stamps need to be paid?
Hi emmory!
Yes, a quitclaim deed can help you in transferring the property to your parents as a gift. Generally when the ownership changes, the lenders ask for refinancing the mortgage. It depends on the your lender as to what he will want.
There are certain stamp docs involved in this process. You will have buy them though its a gift transfer.
Thanks.
Yes, a quitclaim deed can help you in transferring the property to your parents as a gift. Generally when the ownership changes, the lenders ask for refinancing the mortgage. It depends on the your lender as to what he will want.
There are certain stamp docs involved in this process. You will have buy them though its a gift transfer.
Thanks.
Hi emmory!
You can transfer property as a gift to your parents by the help of a quitclaim deed. It is generally $.70 per $100.00 of the sale price. The stamp docs and transfer taxes are extremely essential for any property transfers because they make the deal legal.
Thanks.
Jerry
You can transfer property as a gift to your parents by the help of a quitclaim deed. It is generally $.70 per $100.00 of the sale price. The stamp docs and transfer taxes are extremely essential for any property transfers because they make the deal legal.
Thanks.
Jerry