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2. Used to Remove One Spouse from Title: During a divorce, if the property is owned jointly, the quitclaim deed can be used to remove one spouses name from the deed. This ensures that the spouse who is not retaining the property has no legal claim to it after the divorce.
A: If youre the sole property owner, adding someone to your California property is feasible, but its essential to be mindful of potential impacts on property taxes. Its recommended to consult with your accountant to understand the ramifications of transferring real estate during your lifetime.
Through a quitclaim deed. Spouses or family members usually use it to gift, join, or divide property without selling it. Make a record of the quitclaim deed.
The simplest way to add a spouse to a deed is through a quitclaim deed. This type of deed transfers whatever ownership rights you have so that you and your spouse now become joint owners. No title search or complex transaction is necessary. The deed will list you as the grantor and you and your spouse as grantees.
In New York, a quitclaim deed just gives the property to the new owner without any promises about the title, except for one small promise under Section 13 of the New York Lien Law. For example, if my wife and I own a house and I want to give my part to my cousin, I use a quitclaim deed.

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If the person to be removed is alive, then you will need a court order or their cooperation such that you can record a new deed that removes them. Quitclaim and warranty deeds are common solutions. If an owner of a property has passed away, you will need to transfer the property to the living owners.
GIFT TAX IMPLICATIONS By law, any gift exceeding a certain amount (as of 2023, $17,000 per recipient per year) must be reported to the IRS, potentially triggering a gift tax liability. Adding a relative to your deed could be considered a gift, and this could result in higher taxes that you need to pay.

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