Posted on: 22nd Mar, 2010 02:14 pm
Ex husband is refinancing home so he can have girlfriend move in. So signing a quiet claim deed tomorrow to remove my name from house. When i get my check for my half of the equity will I have to pay any type of tax on that since the house wasn't actually sold? This is in South Dakota.
Hi vssfsd,
I guess the amount that you receive through check will be considered as a gift. Thus, your ex-husband may be liable for paying the gift taxes on that amount. You won't be liable for any taxes.
Thanks
I guess the amount that you receive through check will be considered as a gift. Thus, your ex-husband may be liable for paying the gift taxes on that amount. You won't be liable for any taxes.
Thanks