Posted on: 05th Oct, 2007 08:41 am
does a quit claim deed allow the two parties to avoid paying taxes if the two parties are related?
I don't completely understand your question. But when taxes are due there really isn't any way to get out of them. The tax man can take your home if you don't pay so they are by far the most important thing to pay when you have a mortgage.
Believe it or not even if you had a $1 million mortgage and you owed the taxes of say $100. The taxes can foreclose and force you to pay off the $100. This is how important it is to keep all taxes paid and up to date.
This scenario is unlikely however I am just trying to show that taxes are not to be messed with. They always must be paid if they are due.
I also would like to point out that even if a home owner leaves and taxes are due the next owner has to pay them or not get the house.
Believe it or not even if you had a $1 million mortgage and you owed the taxes of say $100. The taxes can foreclose and force you to pay off the $100. This is how important it is to keep all taxes paid and up to date.
This scenario is unlikely however I am just trying to show that taxes are not to be messed with. They always must be paid if they are due.
I also would like to point out that even if a home owner leaves and taxes are due the next owner has to pay them or not get the house.
Dont ever try to cheat the government. They have 250 years of experience on you and ways to make you pay. Government will always get its money.
if you think you can utilize your individual idea to avoide paying taxes, I will tell you not. though the quit claim deed is executed among the family members,but your problem is not allowed.the government can see through it.
