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Posted By: Stephanie Tran on 12/27/2016
My house is paid off. Want to deed the title to my son.
Does anyone know if my son would be subject to 'any tax' in this case? Thanks.
 
Replies:

1. Posted By: Neva Briggs On: 12/27/2016
There are transfer tax exemptions for most family related transfers. For any other taxes, like income tax, you would want to discuss with an accountant.

2. Posted By: Steve Spencer On: 12/28/2016
Your answer is explained at this web site:
http://www.elderlawanswers.com/giving-your-home-to-your-children-can-have-tax-consequences-9667

3. Posted By: Stephanie Tran On: 12/28/2016
Thank you Steve for the link to the elderlawanswers.com site. It's very useful.

4. Posted By: James N. Swick On: 7/12/2017
The Chase Mortgage loan on my house at 17870 N. Saddle Ridge of $290,000 has been paid off and the house is now free of mortgage and I need to get a deed title for the property. Do I come
in to your office for this service. If so, please give me a date and time for such a meeting.
I have a letter from Chase stating the the house is mortgage free as of June 6, 2017. Thanks for
your assistance. My phone: 623-258-0134 Jim Swick