Posted on: 16th Sep, 2008 01:03 pm
My son has property that he wants to transfer to me. The property is in Washington State and paid for in full. My son has moved to another state and bought property there and has no desire to use this property or sell it. Can he quit claim the property to me, as there is no money exchanging hands--this would strictly be a gift to me. Judy
yes he can do a quit claim deed to you.
Yes, a quit claim will be the way to do this. It is up to you and your son if you want it to be a gift or not. I would check with an accountant to see if there would be gift tax or not and the best way to go about it with paying as little taxes as possible. Either way, a title company or attorney can prepare a quit claim deed for you and your son to sign to transfer title into your name.
