Posted on: 21st Feb, 2013 01:51 pm
My father has cancer and has 2 months to live, should we have a quick claim deed for his home and vehicle? I heard it is best because of taxes is this true?
Hi Vicki!
Welcome to forums!
If there is any kind of lien on the property like mortgage, then you can ask your father to use a quitclaim deed in order to get the property transferred in your name. But the quitclaim deed still has certain tax issues. It will be better to get in touch with a tax adviser and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
If there is any kind of lien on the property like mortgage, then you can ask your father to use a quitclaim deed in order to get the property transferred in your name. But the quitclaim deed still has certain tax issues. It will be better to get in touch with a tax adviser and take his opinion in this regard.
Feel free to ask if you've further queries.
Sussane
does the wife of your father still present? who are the persons to whom you want to get the property transferred? anyways, if your father agrees to do a quit claim deed, then it is fine.