Posted on: 21st Jul, 2011 10:12 pm
Hi, I quit claimed my house to my sister in 2008. I still own the house but name is not on the deed because I took it off. I recently got a tax audit saying I owed over 500.00 for dock taxes or something like that since I quit claimed it. Why didnt they tell me that in the beginning? Do I really owe That Thank You Ginny? Also is there anyway out of it if I add my name back on? Thanks Ginny
Hi robbob!
Welcome to forums!
You will be liable for paying doc stamps once you transfer the property to someone else. You can ask your sister to sign a quitclaim deed and add you back to the property deed.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
You will be liable for paying doc stamps once you transfer the property to someone else. You can ask your sister to sign a quitclaim deed and add you back to the property deed.
Feel free to ask if you've further queries.
Sussane
I'm not quite sure why you might want to have your sister quit claim to you...didn't see that as one of your queries, Ginny.
As for the taxes, it's worthwhile to dig a little further into the rationale behind the requirement. Call the tax office and find out what you can; there' no need for legal representation for something so minor at this stage, but if it becomes a real issue for you, you might consider it.
Still, for $500, considering bring a lawyer in would probably be a move not worth making at all. If you can handle this yourself, do so.
Why you were not informed earlier? I guess that would have something to do with who might have been providing you with advice at that time.
As for the taxes, it's worthwhile to dig a little further into the rationale behind the requirement. Call the tax office and find out what you can; there' no need for legal representation for something so minor at this stage, but if it becomes a real issue for you, you might consider it.
Still, for $500, considering bring a lawyer in would probably be a move not worth making at all. If you can handle this yourself, do so.
Why you were not informed earlier? I guess that would have something to do with who might have been providing you with advice at that time.
