Posted on: 16th Dec, 2010 10:55 am
my father-in-law wants to quick deed the house we are in. There is no lean on it, is there a down fall to this.
Welcome teadler,
As there is no lien on the property, your father-in-law can sign a warranty deed and transfer the property to you. If he transfers the property as a gift, then he will be liable for paying the gift taxes.
As there is no lien on the property, your father-in-law can sign a warranty deed and transfer the property to you. If he transfers the property as a gift, then he will be liable for paying the gift taxes.