Legal Question in Real Estate Law in Texas

Texas use of Gift deed to transfer real property

Is it permitted in Texas to gift an interest in real property for merely love and affection from a son to a mother, or need there be some monetary consideration.

Asked on 4/20/98, 8:41 pm

2 Answers from Attorneys

Basil Landon Hoyl, Jr. Law Office of Basil Hoyl - Safeco Land Title
0 users found helpful
0 attorneys agreed

gift deed permitted

Gift deeds are permitted in Texas. Beware of due on sale or transfer clauses in mortgages and federal gift tax issues.

Read more
Answered on 5/13/98, 12:53 pm
Weston Cotten Weston Cotten Attorney at Law
0 users found helpful
0 attorneys agreed

Gift deeds in Texas

You do not say why you wish to transfer the property. The short answer is yes an outright gift is allowed. There are pitfalls to avoid thousgh. Gift tax implications should be checked out. Is this beign done to qualify for Medicaid, or some othe rgovernment benefit? Is there an existing mortgage and if so, is there a due on sale clause. There is more to the question than you have provided in your question. A good attorney will ask you those questions and try to keep you from getting into one of the toruble areas with gifts or eal property.

Read more
Answered on 5/13/98, 7:18 pm

Related Questions & Answers

More Real Estate and Real Property questions and answers in Texas

Looking for something else?

Get Free Legal Advice

88413 active attorneys ready to answer your legal questions today.

Real Estate and Real Property Legal Forms

Browse and download our attorney-prepared and up-to-date legal forms from $4.99

Find a Legal Form

Featured Attorneys

Anthony SmithLawSmithLee's Summit, MO
Michelle ScopelliteGoldstein & Scopellite, PCTucson, AZ
Barry SteinDe Cardenas, Freixas, Stein & ZacharyMiami, FL
Find An Attorney

Are you an Attorney?

Earn additional revenue and grow your business. Join LawGuru Now