Posted on: 19th Oct, 2010 11:05 am
Hello, my inlaws want to put my husbands name on their house before they pass so there are no problems later on. I am told they need to do a quick claim deed. If they do this, what will happen when they both do pass away, does this mean he is the sole owner of the house and will he have to pay inheritance tax for the house?
Hi Sloan,
If your in-laws use a quitclaim deed to transfer the property to your husband, then he will become the owner of the property. However, I don't think he will be liable for paying any inheritance tax due to this. But he will be liable for paying the property taxes and look after the maintenance of the property.
Thanks
If your in-laws use a quitclaim deed to transfer the property to your husband, then he will become the owner of the property. However, I don't think he will be liable for paying any inheritance tax due to this. But he will be liable for paying the property taxes and look after the maintenance of the property.
Thanks