Posted on: 28th Apr, 2011 10:21 am
My parents were told by their counselor that there would be no excise tax with their quit claim of their house to me.
We later found out that there is a tax associated with such a quit claim.
Can I quit claim it back to them as they cannot afford the excise tax and we were not going to do it if the their was to be a tax in the first place.
We later found out that there is a tax associated with such a quit claim.
Can I quit claim it back to them as they cannot afford the excise tax and we were not going to do it if the their was to be a tax in the first place.
Hi mansunwoo!
Welcome to forums!
Before quitclaiming the property back to your parents, you should have a word with a real estate attorney and take his/her opinion in this matter.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Before quitclaiming the property back to your parents, you should have a word with a real estate attorney and take his/her opinion in this matter.
Feel free to ask if you've further queries.
Sussane