Posted on: 18th May, 2009 12:32 pm
My ex and I were divorced a little over three years ago and due to current health issues, am worried about his portion going into probate should he pass away.(He has no will and our child is his only child) I'm almost positive he will agree to a quit claim but I am concerned over tax implications.
Hi misjean,
Your ex can sign a quitclaim deed and transfer the property to your child now. As far as I know, there is no time limit to file quitclaim deed after divorce.
There are certain tax implications when one files a quitclaim deed. Your ex may have to pay gift taxes if he transfers the property to your child as a gift.
Thanks
Your ex can sign a quitclaim deed and transfer the property to your child now. As far as I know, there is no time limit to file quitclaim deed after divorce.
There are certain tax implications when one files a quitclaim deed. Your ex may have to pay gift taxes if he transfers the property to your child as a gift.
Thanks