Posted on: 04th Sep, 2009 06:09 am
my husbands company may be going under. the acountant advised us to put both our homes (the deeds) into my name only? is this done through either a quit claim deed or a interspousal transfer deed? and what are the implications of doing this? will this keep the creditors from taking our homes? how do i go about doing this?
victoria_dreckmann
I am not sure whether your accountant's advice will work or not but it is very sure that in order to transfer the property from one person to another one need to file a quitclaim deed.
as far as Interspousal Transfer Grant Deed is concerned it is used for the purpose of tax advantages.For example in California, such a deed is considered a transfer only and not exactly change in ownership under §63 of the Revenue and Taxation Code
I hope you got the answer
I am not sure whether your accountant's advice will work or not but it is very sure that in order to transfer the property from one person to another one need to file a quitclaim deed.
as far as Interspousal Transfer Grant Deed is concerned it is used for the purpose of tax advantages.For example in California, such a deed is considered a transfer only and not exactly change in ownership under §63 of the Revenue and Taxation Code
I hope you got the answer