Legal Question in Real Estate Law in Illinois
Transferring of Deeds
My mother owns a cottage and wants to put the deed in my name. She is not selling me the cottage, she is giving it to me. Can this be done and if so, how? And would it cause me any income tax problems along the way?
Asked on 6/20/00, 7:06 pm
1 Answer from Attorneys
Re: Transferring of Deeds
Hello. This can be done.
Your mother can have a quit
claim deed prepared which
would convey the interest
that she holds in the
property to you. As to
income tax problems, I suggests you let your tax preparer know about this at the end of the year.
Answered on 9/01/00, 1:55 am
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