Posted on: 16th Jun, 2010 04:22 am
i want to gift my house to my dad,house is without mortgage,my dad is a pensioner ,will it affect his pension?
Hi Kmood,
As per my knowledge you can sign a quitclaim deed and transfer the property in your dad's name. You have to pay the gift taxes and after the transfer your dad will be liable to pay the property related taxes. It will not affect your dad's pension.
As per my knowledge you can sign a quitclaim deed and transfer the property in your dad's name. You have to pay the gift taxes and after the transfer your dad will be liable to pay the property related taxes. It will not affect your dad's pension.