Posted on: 19th Apr, 2009 12:40 pm
My father is planning to give me his mobile home as I live with him and his health is failing. He owns it outright and it currently is licensed as a motor vehicle and not as personal property (no taxes). Can we transfer the property and can we avoid a huge tax payout? Or can we just add my name to the title?
Hi jeannef,
I believe a quit claim deed would be enough to add you to the title to the mobile home and this will not cause any huge tax payout.
I believe a quit claim deed would be enough to add you to the title to the mobile home and this will not cause any huge tax payout.
If in fact it is licensed as a motor vehicle, I believe due to the fact that it is between father and daughter, he can gift you the vehicle without a huge tax bill
Hi jeannef46 ,
I have watched out your post & then would like to advice you that if your fathers heath going down days to days so you can transfer all property of your father on your name by quit claim deed.
I would like to know that, what is age of your father ?
Make the will by your father if they agree with that. As stacy says they can give his own vehicle to you by gift. So you not need to pay lot of taxes.
They can add your name on title. If in agreement they stated about that.
Regards,
Daniel.
I have watched out your post & then would like to advice you that if your fathers heath going down days to days so you can transfer all property of your father on your name by quit claim deed.
I would like to know that, what is age of your father ?
Make the will by your father if they agree with that. As stacy says they can give his own vehicle to you by gift. So you not need to pay lot of taxes.
They can add your name on title. If in agreement they stated about that.
Regards,
Daniel.