Real Estate Transfer
My parents want to transfer their home to my brother. There are no liens on the property. Will this transfer be subject to gift tax or any other type of tax? What document would be used in the transfer?
Asked on 2/02/07, 11:54 pm
1 Answer from Attorneys
Jeff Rosner
Rosner Law Firm P.A.
Re: Real Estate Transfer
Yes it would be subject to gift tax - consult with CPA or tax attorney.
A deed effectuates the transfer and needs to be recorded to give record notice to third parties.
Answered on 2/04/07, 7:57 am
