Mccreary County Gift Deed Forms (Kentucky)

Express Checkout

Form Package

Gift Deed

State

Kentucky

Area

Mccreary County

Price

$29.97

Delivery

Immediate Download

Payment Information

Please provide a valid email.
Please provide a valid first name.
Please provide a valid last name.
Please provide a valid card number.
Please provide a valid security code.
Please provide a valid billing zip code.
You must agree before submitting.
You must agree before submitting.

Included Forms

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

Gift Deed Form

Gift Deed Form Page 1

Fill in the blank form formatted to comply with all recording and content requirements.
Included document last reviewed/updated 7/13/2023

Gift Deed Guide

Gift Deed Guide Page 1

Line by line guide explaining every blank on the form.
Included document last reviewed/updated 4/13/2023

Completed Example of the Gift Deed Document

Completed Example of the Gift Deed Document Page 1

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

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 or Mccreary 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 Mccreary 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 Mccreary 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 Mccreary County that you need to transfer you would only need to order our forms once for all of your properties in Mccreary County.

Are these forms guaranteed to be recordable in Mccreary County?

Yes. Our form blanks are guaranteed to meet or exceed all formatting requirements set forth by Mccreary 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:

  • Mccreary County

Including:

  • Marshes Siding
  • Parkers Lake
  • Pine Knot
  • Revelo
  • Stearns
  • Strunk
  • Whitley City

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 Mccreary 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 Mccreary 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.

Reviews

4.8 out of 5 (4171 Reviews)

Angela J M.

September 29th, 2023

Quick turnaround (about 24hrs) easy process.

Reply from Staff

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

Jennifer T.

September 29th, 2023

I got instant access to the exact forms I needed! The guide to completing the form was very thorough and easy to understand. I am very thankful for this service!

Reply from Staff

Thank you for the kind words Jennifer. We appreciate you!

Maria M.

September 27th, 2023

The requested documents I needed were provided and also complete instructions on how to fill them out. I definitely will you this service again.

Reply from Staff

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

Chuck M.

May 30th, 2019

Easy to use service. However, the product that I purchased did not meet my needs. No fault of the company.

Reply from Staff

Thank you for your feedback Chuck. We certainly don't want you to purchase something you can not use. We have canceled your order and payment. Have a wonderful day.

James I.

March 3rd, 2023

It worked out very well.
Got the form(s) with
clear instructions.

Reply from Staff

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

LAWRENCE P.

December 7th, 2021

How about a single button zip download of the files displayed instead of downloading them one at a time?

Reply from Staff

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

Susan G.

January 7th, 2023

I was pleased with the example of a completed beneficiary deed and instructions. It made filling out the deed very easy.

Reply from Staff

Thank you!

Louise D.

October 21st, 2022

It was easy to complete the form and I appreciated the sample form.

Reply from Staff

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

Julius D.

July 10th, 2020

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!

Daniel S.

November 7th, 2022

Easy to access documents.

Reply from Staff

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

Alfred M.

March 12th, 2023

It was a simple process and easily understood the process was seamless and I would highly recommend this to anyone looking to do this.

Reply from Staff

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

Denise G.

March 23rd, 2019

It was so easy to locate and download all the forms I needed. Saved so much time.

Reply from Staff

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

Janet R.

January 7th, 2019

Disappointed. Description of Lien discharge form does not indicate it is specific to Mechanic liens. I'm inexperienced with liens & should have contacted someone before I ordered.

Reply from Staff

Sorry to hear that, it does look like our product description was lacking clarity. We have updated the description to better reflect the documents. We have also canceled your order and refunded the payment. Hope you have a great day.

Rhonda P.

February 23rd, 2021

Very quick and easy! Didn't even have to leave the house and I didn't have to send via USPS which is nice since we are in a pandemic. The convenience of this site is worth the extra money. Would definitely use this site again.

Reply from Staff

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

Joan E S.

June 10th, 2022

appreciate the ease of finding a group of forms without the need for a lawyer--the time and expense--for a basic transfer of joint tenancy following a death.

Reply from Staff

Thank you!