Posted on: 31st Aug, 2009 02:42 pm
My Mother would like to add my name to her home with a quickclaim deed. The mortgage is paid off. Am I responsible for the taxes on the home upon her death?
Yes. if your name is goign to be on the property you are responsible
Check this out
http://www.mortgagefit.com/search/quitclaim-deed.html
Check this out
http://www.mortgagefit.com/search/quitclaim-deed.html
Hi Katt,
Once you become the owner of the property, you would be responsible for the taxes. On your mother's death, you would be liable for paying off the property taxes. In case, if you sell off the property, you would liable for paying the capital gains taxes.
Thanks
Once you become the owner of the property, you would be responsible for the taxes. On your mother's death, you would be liable for paying off the property taxes. In case, if you sell off the property, you would liable for paying the capital gains taxes.
Thanks