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Gift Deed Form - Guthrie County
Fill in the blank form formatted to comply with all recording and content requirements.
Included document last updated 11/1/2019
Gift Deed Guide - Guthrie County
Line by line guide explaining every blank on the form.
Included document last updated 11/13/2019
Completed Example of the Gift Deed Document - Guthrie County
Example of a properly completed form for reference.
Included document last updated 10/4/2019
*The Following Iowa and Guthrie County supplemental forms are included as a courtesy with your order.
Real Estate Transfer Declaration of Value
According to Iowa law, a Declaration of Value, stating the full consideration paid in certain non-exempt real estate conveyances, must be submitted to the county recorder at the time a deed, contract, instrument, or other writing is presented for recording. A version to be filled in online as well as a print version of the form are available. Both include instructions, but make sure to consult the Detailed Filing Instructions as well.
Real Estate Transfer Groundwater Hazard Statement
This form must be presented to the county recorder when the document to be recorded is filed. The recorder shall forward the original to the transferee when the recorded instrument is returned.
Transfer Tax
This tax table lists transfer tax rates by amount of consideration.
Iowa Homestead Exemption
If you are an Iowa resident property owner and live in the property for 6 months or longer each year, you may qualify for a Homestead exempition. This can reduce your property taxes.
Notary Certificates
The supplemental forms in this section can be used as loose certificates by notaries in the state.
Including:
Gifts of Real Property in Iowa
Gift deeds convey title to real property from one party to another with no exchange of consideration, monetary or otherwise. Often used to transfer property between family members or to gift property as a charitable act or donation, these conveyances occur during the grantor's lifetime. Gift deeds must contain language that explicitly states that no consideration is expected or required. Ambiguous language, or references to any type of consideration, can make the gift deed contestable in court.
A lawful gift deed includes the grantor's full name and marital status, as well as the grantee's full name, marital status, vesting information, and mailing address. Vesting describes how the grantee holds title to the property. Generally, real property is owned in either sole ownership or co-ownership. For Iowa residential property, the primary methods for holding title are tenancy in common and joint tenancy. An estate conveyed to two or more people who are not married to each other is considered a tenancy in common unless otherwise specified. A conveyance to a married couple vests as joint tenancy with rights of survivorship unless otherwise stated (Iowa Code 557.15).
As with any conveyance of realty, a gift deed requires a complete legal description of the parcel. Recite the source of title to maintain a clear chain of title, and detail any restrictions associated with the property. The deed must be signed by the grantor and acknowledged by an individual authorized to take acknowledgements. All signatures must be original.
In Iowa, most conveyances of real property require a Declaration of Value. Because a gift deed transfers real property from one party to another with no exchange of consideration, however, it is exempt from this requirement (Iowa Code 428A.2(21)). Record the completed gift deed in the recorder's office of the county where the subject property is located. Contact the same office to confirm recording fees and accepted forms of payment.
With gifts of real property, the recipient of the gift (grantee or donee) is not required to declare the amount of the gift as income, but if the property accrues income after the transaction, the grantee is responsible for paying the requisite state and federal income tax [1].
In Iowa, there is no state gift tax, but gifts of real property are subject to the federal gift tax. The person or entity making the gift (grantor or donor) is responsible for paying the federal gift tax; however, if the donor does not pay the gift tax, the donee (grantee) will be held liable [1]. For questions regarding state and federal tax laws, consult a tax specialist.
In accordance with federal law, individuals are permitted an annual exclusion of $15,000 on gifts. This means that gifts valued below $15,000 do not require a federal gift tax return (Form 709). However, if the gift's value could possibly be disputed by the IRS, a donor may benefit from filing a Form 709 [2].
This article is provided for informational purposes only and is not a substitute for the advice of an attorney. Contact an Iowa lawyer with any questions about gift deeds or other issues related to the transfer of real property.
[1] http://msuextension.org/publications/FamilyFinancialManagement/MT199105HR.pdf
[2] https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes
Get your Guthrie County Gift Deed form done right the first time with Deeds.com Uniform Conveyancing Blanks. At Deeds.com, we understand that your time and money are valuable resources, and we don't want you to face a penalty fee or rejection imposed by a county recorder for submitting nonstandard documents. We constantly review and update our forms to meet rapidly changing state and county recording requirements for roughly 3,500 counties.
The documents you receive here will meet, or exceed, the Guthrie County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.
4.7 out of 5 (978 Reviews) November 17th, 2019
Name: Shirley C.
Review: I liked that the documents could be filled in on my computer. All the documents came out nice, better than I expected really.
Reply from Staff on November 17th, 2019
Thank you Shirley, we appreciate your feedback. Have a great day!
November 17th, 2019
Name: Jane R.
Review: Forms were easy to complete and print.
Reply from Staff on November 17th, 2019
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
November 17th, 2019
Name: Sandra M.
Review: The forms were easy to use but there was a software issue that made it impossible to get the county name to appear on the form in the correct place. It made the deed look a little sloppy
Reply from Staff on November 17th, 2019
Thank you!
November 16th, 2019
Name: Sally Ann C.
Review: Thank you for your service. It seems to have worked, I printed a document purporting to be the Deed I needed. I was somewhat disappointed though - I was expecting something as impressive as the Title Search, which goes back to 1828 and includes Millard Fillmore, admittedly not one of our most celebrated Presidents. But I am happy to have what I have, and thank you again! peace - SAVC
Reply from Staff on November 17th, 2019
Thank you for your feedback. We really appreciate it. Have a great day!
November 16th, 2019
Name: LEON S.
Review: recorded deed space to small for corrective deed requirement
Reply from Staff on November 16th, 2019
Thank you for your feedback. We really appreciate it. Have a great day!
November 16th, 2019
Name: VICTOR S.
Review: Wow! Nice and easy!
Reply from Staff on November 16th, 2019
Thank you!
November 15th, 2019
Name: Lori C.
Review: It just a little disconcerting that I was not able to preview any of the forms prior to purchasing them. Thank goodness they were the correct forms I needed. I would suggest being able to at least make the picture of the forms a little larger or give the capability to zoom in.
Reply from Staff on November 15th, 2019
Thank you!
November 15th, 2019
Name: Jonnie G.
Review: I very much dreaded this whole endeavor but very pleasantly surprised. So far, so good. I feel much more confidant that the crucial form, when presented, will play well with the county.......
Reply from Staff on November 15th, 2019
We appreciate your business and value your feedback. Thank you. Have a wonderful day!
November 15th, 2019
Name: Gary K.
Review: Straightforward and pretty easy to use. The only downside is that there is no way to contact them directly. The number on the website is answered only by a voicemail with no return calls. Pricing seems fair compared to other services and much more efficient that filing "over the counter."
Reply from Staff on November 15th, 2019
Thank you for your feedback. We really appreciate it. Have a great day!
November 14th, 2019
Name: Dee R.
Review: Quick, Simple order process with many options of forms to download!
Reply from Staff on November 14th, 2019
We appreciate your business and value your feedback. Thank you. Have a wonderful day!