Posted on: 10th May, 2010 08:44 am
I own property with my mother, we purchased it together-split the down payment. I have been paying off the mortgage/taxes/insurance since we bought it. Is doing the quitclaim deed the correct way to go to just get the house under my name? would there be tax implications since I ALREADY own theh house? or at least part of it?
Thanks
Thanks
Hi baxter!
Welcome to forums!
Your mother can use a quit claim deed in order to transfer her share of the property to you. As there will be a transfer of property interest, there would be tax implications associated with it.
Feel free to ask if you've further queries.
Sussane
Welcome to forums!
Your mother can use a quit claim deed in order to transfer her share of the property to you. As there will be a transfer of property interest, there would be tax implications associated with it.
Feel free to ask if you've further queries.
Sussane