Posted on: 08th Jan, 2010 11:56 am
My partner and I want to include my name on the title to our home. Should we file a Quitclaim deed from him to both of us? If so, do we have to pay the documentary transfer tax? Thanks! My partner and I bought a house in CA. My credit was bad, so I contributed my half in cash. He got a mortgage for part of his half and has paid the mortgage, so the title is clear. The CA Quitclaim form has a space under "For a valuable consideration..." Do we need to specify an amount? If so, can it be any amount? I have seen "One dollar and other valuable consideration" used on legal documents.
Hi Guest,
You can mention any amount in the space provided under the section - "For a valuable consideration...". You can even write "One dollar and other valuable consideration" if you feel like. It is legal to write that in the document.
Thanks
You can mention any amount in the space provided under the section - "For a valuable consideration...". You can even write "One dollar and other valuable consideration" if you feel like. It is legal to write that in the document.
Thanks
Quitclaim deed has no linkage with other properties owned by grantee.
you will incur some taxes in this process
you will incur some taxes in this process
