Legal Question in Real Estate Law in Texas

Warranty Deed
I co-signed on my In-Laws Mortgage Loan, to help them qualify for the loan, although I didn't provide any help will financing the loan. They paid the loan off 2 months later after selling their old house. Because of this, my name is on the Deed. I am filling out a Warranty Deed to transfer my interst to them, so they can receive their full Senior Citizen Exemption. My question is whether there is any Tax implications in which of the 5 boxes I check on the form, regarding 1) for a good and valuable consideration, 2) for $10... 4) in consideration of Grantor's love..

I am assuming there is no Estate Tax implications, regardlass whether I give it to them ''for love'' or if I sell them my interest for ''$10'' on the form.

Asked on 2/28/09, 2:05 pm

Cheryl Rivera Smith The Smith Law Firm

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0 attorneys agreed

Re: Warranty Deed

You assume correctly.

Answered on 3/01/09, 7:28 am

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