Kentucky - Breathitt County Gift Deed Forms

Included Forms

All Breathitt County specific forms and documents listed below are included in your immediate download package:

Gift Deed Form - Breathitt County

Fill in the blank form formatted to comply with all recording and content requirements.
Included document last updated 10/27/2022

Gift Deed Guide - Breathitt County

Line by line guide explaining every blank on the form.
Included document last updated 1/31/2023

Completed Example of the Gift Deed Document - Breathitt County

Example of a properly completed form for reference.
Included document last updated 1/26/2023

Included Supplemental Documents

The Following Kentucky and Breathitt County supplemental forms are included as a courtesy with your order.

Consideration Certificate (Kentucky Document)

Consideration Certificate Exemptions (Kentucky Document)

Transfer Tax Information & Exemptions (Kentucky Document)

Kentucky Statute 132.810 Homestead exemption -- Application -- Qualification. (Kentucky Document)

Application for Exemption (Kentucky Document)

Frequently Asked Questions:

• How long does it take to get my forms?
  • Forms are available immediately after submitting payment.
• What are supplemental forms?
  • Often when a deed is recorded additional documents are required by Kentucky or Breathitt County. These could be tax related, informational, or even as simple as a coversheet. Supplemental forms are provided for free with your order where available.
• How do I get my forms, are they emailed?
  • After you submit payment you will see a page listing the Breathitt County forms you ordered with a download link to the pdf form file. You download the forms to your computer. You will also receive an email with a link to your download page in case you need it later.
• What type of files are the forms?
  • All of our Breathitt County Gift Deed forms are PDFs. You will need to have or get Adobe Reader to use our forms. Adobe Reader is free software that most computers already have installed.
• Can the Gift Deed forms be re-used?
  • Yes. You can re-use the forms for your personal use. For example, if you have more than one property in Breathitt County that you need to transfer you would only need to order our forms once for all of your properties in Breathitt County.
• Are these forms guaranteed to be recordable in Breathitt County ?
  • Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Breathitt County including margin requirements, content requirements, font and font size requirements.
• Do I have to enter all of my property information online?
  • No. The blank forms are downloaded to your computer and you fill them out there, at your convenience.
• Can I save the completed form, email it to someone?
  • Yes, you can save your deed form at any point with your information in it. The forms can also be emailed, blank or complete, as attachments.
• Do I need any special software to use these forms?
  • You will need to have Adobe Reader installed on your computer to use our forms. Adobe Reader is free software that most computers already have installed.
• Are there any recurring fees involved?
  • No. Nothing to cancel, no memberships, no recurring fees.

Areas covered by these Gift Deed Forms:

• Breathitt County

Including:

• Athol
• Bays
• Clayhole
• Jackson
• Lost Creek
• Rousseau
• Vancleve
• Whick

What is the Kentucky Gift Deed?

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 Kentucky residential property, the primary methods for holding title are tenancy in common, joint tenancy, and tenancy by the entirety. An estate conveyed to two or more persons is considered a tenancy in common, unless a joint tenancy is specified. An estate conveyed to a husband and wife vests as a tenancy in common, unless a tenancy by the entirety with full right of survivorship is expressly stated (KRS 381.050).

As with any conveyance of realty, a gift deed requires a complete legal description of the parcel. Recite the prior deed reference to maintain a clear chain of title, and detail any restrictions associated with the property.

In Kentucky, most conveyances of real property require a statement of consideration. A transfer tax is levied based on the actual consideration stated and paid. When real property is gifted from one party to another and no consideration is exchanged, tax is paid on the property's estimated value, so that amount must be stated within the instrument (KRS 382.135(1)(e)). "Value," as defined by KRS 142.050(1)(b)(2), is "the estimated price the property would bring in an open market and under the then prevailing market conditions in a sale between a willing seller and a willing buyer, both conversant with the property and with prevailing general price levels." Each grantee must join in signing to certify the consideration statement.

The deed must be signed by both the grantor and grantee and acknowledged by an authorized individual. All signatures must be original. In Kentucky, deeds also require a preparation statement, comprised of the document preparer's name, address, and signature (KRS 382.335(1)). Instruments also require the name and address of the person to receive future tax statements on the subject property (KRS 382.135(1)(d)).

Record the completed gift deed with the clerk's office in 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 Kentucky, 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]. 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 a Kentucky lawyer with any questions about gift deeds or other matters 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

Our Promise

The documents you receive here will meet, or exceed, the Breathitt County recording requirements for formatting. If there's an issue caused by our formatting, we'll make it right and refund your payment.

Save Time and Money

Get your Breathitt 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 and local jurisdictions.

Customer Reviews:

4.8 out of 5 (3974 Reviews)

March 31st, 2023

Name: Fawn T.

Review: So easy, forms were great, examples of filled out forms, and instructions guide. Made it way easier, totally worth it!

Reply from Staff on March 31st, 2023

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

March 31st, 2023

Name: James D.

Review: I had a satisfying experience very informative and easy to navigate.

Reply from Staff on March 31st, 2023

Thank you!

March 30th, 2023

Name: Gina B.

Review: This website is reliable and informative. So glad I can across this website. They provide a wide range of documents that are always provided on the recording county website. Thanks!

Reply from Staff on March 30th, 2023

Thank you!

Name: John V.

Review: getting the proper forms was easy--filling them out, not so much

Reply from Staff

Thank you!

Name: Carolyn N.

Review: It worked! It was exactly what I needed and was easily understood.

Reply from Staff

Thank you!

Name: Jim L.

Review: Very easy to use - the completed sample was super useful

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

Name: Deborah M.

Review: Absolutely great. The staff is responsive and knowledgeable. The online interface is excellent. The total cost for finalizing the sale on our property (minus state filing fees) was $39. A wonderful experience.

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Name: Gerlinde H.

Review: This was fantastic. I downloaded the document, filled it out, printed it, had it notarized and drove to the recorders office and had it recorded within less than 15 minutes. Instructions are precise and easy to understand. You saved me hundreds of dollars a lawyer would have charged for the same work.

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

Name: John R.

Review: All the material included made preparing the quit claim deed very easy. Good product.

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Name: LISA R.

Review: I was very pleased to find your website and the range of services you offer. I was recommended to hire an estate attorney, but the forms you provided will eliminate the need for that. Thank you for the help!

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Name: Andrea H.

Review: Easy! Reasonable cost over and above the actual recording cost. Will save me the time I would have spent driving to the county offices.

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!

Name: John W.

Review: Wow, I wish that I would have found Deeds.com before! Great service!

Reply from Staff

Thank you!

Name: Bennie W.

Review: I used the Quitclaim form. The form was easy to complete without using the example or guide. $21 was a fair price compared to paying a lawyer.

Reply from Staff

Thank you for your feedback. We really appreciate it. Have a great day!

Name: Patricia H.

Review: The process was so easy and result was excellent and expedient. I will definitely recommend your company for future recording needs.

Reply from Staff

Thank you!

Name: Julius D.

Review: Worked great....WV accepted this document and made the whole process easy...thanks

Reply from Staff

We appreciate your business and value your feedback. Thank you. Have a wonderful day!