Posted on: 23rd Nov, 2010 05:40 pm
I own a camp that is worth about 45,000 dollars. I would like to gift this to my two boys age 41 and 39. How would I go about this.
Thanks, Nancy
Thanks, Nancy
Hi Nancy,
You can sign a quitclaim deed in order to transfer the property to your sons as a gift. However, as you're transferring the property as a gift, you may be liable for paying gift taxes.
Thanks
You can sign a quitclaim deed in order to transfer the property to your sons as a gift. However, as you're transferring the property as a gift, you may be liable for paying gift taxes.
Thanks