Posted on: 27th Jan, 2011 02:33 pm
My wife and I are both co-owners of a house. If I file a Quitclaim Deed to transfer the property ownership only to her, does she has to pay taxes for the half of the value of the property I am giving to her
Hi,
Your wife will be liable for paying the property taxes in full. However, if you're transferring the property as a gift to your wife, then you will be liable for paying the gift taxes for it.
Thanks
Your wife will be liable for paying the property taxes in full. However, if you're transferring the property as a gift to your wife, then you will be liable for paying the gift taxes for it.
Thanks