Legal Question in Real Estate Law in Pennsylvania

Quitclaim to add a family member

I want to add a family member to the deed of the property. I was told to use a quitclaim form and have it recorded with the county. Are there any tax implication to do this? Should I get an attorney?


Asked on 7/05/09, 9:42 pm

1 Answer from Attorneys
Daniel Press Chung & Press, P.C.

Re: Quitclaim to add a family member

There are definitely tax implications - both in terms of estate/gift tax (depending on the amount and the size of the estate of the person making the gift), and in terms of capital gains tax (if the person would inherit anyway, they lose the advantage of the stepped-up basis). Depending on the situation, there may be other tax and legal implications as well, so the answer is yes, both the person making the transfer and the potential recipient should consult with a lawyer.

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Answered on 7/06/09, 8:50 am


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