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Re: What are tax implications if a quitclaim deed is used by one of 3 parties on a deed as tenants-in-common? We bought house together (me, husband, my mom).

"depending upon state law, you might wind up in probate court which can be a hassle and you and your husband will incur additional expenses."

I have been reading quite a few of you posts and feel you are really an expert in this area of tax laws.

But I do want to ask you why this type of transfer could end up in a probate court in some states? Is the quitclaim form or process not completely legal in those states? What if the transfer is done with a Grant Deed and recorded in the county office  in place of a quitclaim form?

Thank You.

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1 RESPUESTA 1
DianeW777
Expert Alumni

Re: What are tax implications if a quitclaim deed is used by one of 3 parties on a deed as tenants-in-common? We bought house together (me, husband, my mom).

Although there have been many comments made in this three year old thread, this is a legal question.  I would advise speaking with an attorney to understand the details of a quitclaim deed versus a grant deed.

 

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