Wibaux County Gift Deed Forms (Montana)

Form Package

Gift Deed

State

Montana

Area

Wibaux County

Price

$27.97

Delivery

Immediate Download

Payment Information

Email:

Please provide a valid email.

First Name

Please provide a valid first name.

Last Name

Please provide a valid last name.

Credit Card Type Select Card Type Visa Mastercard American Express Discover

Credit Card Number

Please provide a valid card number.

Expiration Month Select Month 01 - January 02 - February 03 - March 04 - April 05 - May 06 - June 07 - July 08 - August 09 - September 10 - October 11 - November 12 - December

Expiration Year Select Year202420252026202720282029203020312032203320342035203620372038203920402041204220432044

Card Security Code

Please provide a valid security code.

Billing Zip Code

Please provide a valid billing zip code.

Phone Number:

I agree to the Terms of Use and I understand I am purchasing blank real estate deed forms and not a copy of my existing deed.

You must agree before submitting.

Place Order - Download

More info on getting a copy of your existing deed and eRecording.

Included Forms

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

Included Supplemental Documents

The following Montana and Wibaux County supplemental forms are included as a courtesy with your order.

Frequently Asked Questions:

Areas Covered by These Gift Deed Forms:

• Wibaux County

Including:

• Wibaux

What is the Montana Gift Deed

Gifts of Real Property in Montana

A gift deed, or deed of gift, is a legal document voluntarily transferring title to real property from one party (the grantor or donor) to another (the grantee or donee). A gift deed typically transfers real property between family or close friends. Gift deeds are also used to donate to a non-profit organization or charity. The deed serves as proof that the transfer is indeed a gift and without consideration (any conditions or form of compensation).

Valid deeds must meet the following requirements: The grantor must intend to make a present gift of the property, the grantor must deliver the property to the grantee, and the grantee must accept the gift. Gift deeds must contain language that explicitly states no consideration is expected or required, because any ambiguity or reference to consideration can make the deed contestable in court. A promise to transfer ownership in the future is not a gift, and any deed that does not immediately transfer the interest in the property, or meet any of the aforementioned requirements, can be revoked [1].

A lawful gift deed must also include the grantor's full name and marital status, as well as the grantee's full name, marital status, mailing address, and vesting. Vesting describes how the grantee holds title to the property. For Montana residential property, the primary methods for holding title are tenancy in common and joint tenancy. A grant of ownership of real estate to two or more persons is presumed to create a tenancy in common, unless otherwise stated in the conveyance (Mont. Code Ann. 70-1-307, 70-1-314).

As with any conveyance of real estate, a gift deed requires a complete legal description of the parcel. Recite the source of title to establish a clear chain of title, and detail any restrictions associated with the property. Any party transferring real property is required to file a Realty Transfer Certificate. File the form with the County Clerk and Recorder. Montana law requires this form be completed and may impose up to a $500 penalty for failure to file (Mont. Code Ann. 15-7-305). The Realty Transfer Certificate includes a Water Rights Disclosure. Contact the Montana Department of Revenue with questions regarding the transfer, division, or exemption of water rights. Record the completed deed at the local County Clerk and Recorder of Deed's office.

The IRS implements a Federal Gift Tax on any transfer of property from one individual to another with no consideration, or consideration that is less than the full market value. Gifts of real property in Montana are subject to this federal gift tax. 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). Even so, grantors should consider filing one for many gifts of real property [2]. The grantor is responsible for paying the federal gift tax; however, if the grantor does not pay the gift tax, the grantee will be held liable [1].

In Montana, there is no state gift tax. For questions regarding state taxation laws, consult a tax specialist.

With gifts of real property, the recipient of the gift (grantee) is not required to declare the amount of the gift as income, but if the property accrues income after the transaction, the recipient is responsible for paying the requisite state and federal income taxes [3].

This article is provided for informational purposes only and is not a substitute for the advice of an attorney. Contact a lawyer with any questions about gift deeds or other issues related to the transfer of real property. For questions regarding federal and state taxation laws, consult a tax specialist.

[1] https://nationalparalegal.edu/public_documents/courseware_asp_files/realProperty/PersonalProperty/InterVivosGifts.asp
[2] http://msuextension.org/publications/FamilyFinancialManagement/MT199105HR.pdf
[3] https://www.irs.gov/businesses/small-businesses-self-employed/frequently-asked-questions-on-gift-taxes

(Montana GD Package includes form, guidelines, and completed example)

Our Promise

The documents you receive here will meet, or exceed, the Wibaux 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 Wibaux 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 (4317 Reviews)