Posted on: 16th Apr, 2010 07:36 pm
my parents own the house i'm living in. it's paid off. i want the house in my name to get loans to fix it up. will the taxes go up? i would be assuming those of course as well, and they're pretty cheap. is a quit claim deed the way to go? thanks (i'm in michigan).
You can use a quit claim deed, though I would use a warranty deed. Many jurisdiction will use a property transfer to adjust taxes, but intra-family transfers are usually exempt.