Posted on: 15th Dec, 2009 02:01 pm
my husband and i, my son and his wife all built a duplex together. all four names are on the mortgage but only my husband and i are on the deed. can we use a quit claim deed to remedy that situation?
what are the property tax issues with this?
thanks!!
what are the property tax issues with this?
thanks!!
Hi mrowe!
Welcome to forums!
You can use a quit claim deed and add your son and his wife to the property deed. Thus, they would also become the owners of the property. With the change in ownership, the property taxes can be reassessed but I don't think there would be too much of increase or decease in property taxes.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You can use a quit claim deed and add your son and his wife to the property deed. Thus, they would also become the owners of the property. With the change in ownership, the property taxes can be reassessed but I don't think there would be too much of increase or decease in property taxes.
Feel free to ask if you've further queries.
Sussane