Posted on: 07th Oct, 2009 07:31 am
my husband and i are recently married. he purchased our current home before our marriage and we both lived in it. his name is on the mortgage and the deed. being concerned i asked him to put me on the deed in case anything should happen. he went to the lawer by himself and signed a quit deed, which seemed ok to me. after discussing the visit he said i was assigned like 1% ownership. i wanted 50% ownership, he said that is what the 1% entitles me to, but that makes no sense. he said if the paperwork were to have said 50% we would have had to pay tax on the amount. is this tue? can you explain better?
thank you
thank you
i think he did a quit claim deed and gave you only 1% of the property ownership to you
i do nto think the taxes woudl have been any extra if he had done it for 50%, but any how check the document and see what it states
also check with the county office and see what it has benn recorded as
i do nto think the taxes woudl have been any extra if he had done it for 50%, but any how check the document and see what it states
also check with the county office and see what it has benn recorded as
Hi CodyB!
Welcome to forums!
Transfer of property may result into taxes. Your attorney would be the best person to let you know how much taxes your husband will have to pay if he transfers 50% of the property. It may vary from state to state.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Transfer of property may result into taxes. Your attorney would be the best person to let you know how much taxes your husband will have to pay if he transfers 50% of the property. It may vary from state to state.
Feel free to ask if you've further queries.
Sussane