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A gift deed is a legal document used to transfer property ownership from one person to another, typically among family members. This process is quick, requiring the seller's signature, after which the property is officially theirs. However, many attorneys, including those at this office, prefer using a special warranty deed due to the tax implications of gift deeds. It's often advisable to wait until the property owner's passing to take advantage of a stepped-up basis. Alternatives like a transfer on death deed allow for future gifting and can be revoked, unlike a gift deed, which is permanent. For further questions, contact us at 210-468-1831 or email victor@moslawfirm.com.