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Reply #1: Talk to an Attorney [View All]

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Coyote_Bandit Donating Member (1000+ posts) Send PM | Profile | Ignore Tue Jun-14-05 03:50 PM
Response to Original message
1. Talk to an Attorney
Edited on Tue Jun-14-05 03:50 PM by Coyote_Bandit
Laws vary from place to place.

To transfer title basically what you will need is a warranty deed and an exchange of some monetary consideration. However, since the exchange isn't for fair value there may be tax ramifications and you will need to find out about those. And in some situations (i.e., bankruptcy, or a gift made in contemplation of death) an exchange for less than fair value can be set aside.

I would recommend an attorney/CPA for the best advice.

Edit for spelling.
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