Legal Question in Real Estate Law in Missouri

I have been given a home from my mom who passed away in January. I don't want the home cause of bad blood in the family, and want to quit claim it to my brother in law that lives near the property. I am not selling it to him just giving it to him. do I still have to pay some kind of taxes other than just the property tax for as long as I have had it. I live in Missouri.

Asked on 4/30/19, 12:57 pm

1 Answer from Attorneys

Christopher Braddock Cline, Braddock & Basinger LLC

In general, there should not be a taxable event, unless you receive more money for the property than what its fair market value was at the time you received it - in which case there may be a capital gain. Each situation is different, however, so please feel free to contact our office or speak with one of our attorneys, or with a different attorney of your choice before taking definite action.

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Answered on 4/30/19, 1:57 pm

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