If I were to quit claim deed my home to a family member as part of setting up my estate, would they be responsible to the IRS or any other entity for moneys owed, if any, at the time of my death?

Get Legal Help Today

 Secured with SHA-256 Encryption

If I were to quit claim deed my home to a family member as part of setting up my estate, would they be responsible to the IRS or any other entity for moneys owed, if any, at the time of my death?

Or would i still be responsible as my name would also be on my home’s title?

Asked on May 23, 2017 under Real Estate Law, Colorado

Answers:

S.L,. Member, California Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

When you quitclaim your house to a family member, that member becomes responsible for all subsequent taxes, fees, etc.
The quitclaim deed releases your entire right, title, and interest in the property.
The quitclaim deed is signed in the presence of a notary and becomes effective upon being recorded (filed with the County Recorder's office).


IMPORTANT NOTICE: The Answer(s) provided above are for general information only. The attorney providing the answer was not serving as the attorney for the person submitting the question or in any attorney-client relationship with such person. Laws may vary from state to state, and sometimes change. Tiny variations in the facts, or a fact not set forth in a question, often can change a legal outcome or an attorney's conclusion. Although AttorneyPages.com has verified the attorney was admitted to practice law in at least one jurisdiction, he or she may not be authorized to practice law in the jurisdiction referred to in the question, nor is he or she necessarily experienced in the area of the law involved. Unlike the information in the Answer(s) above, upon which you should NOT rely, for personal advice you can rely upon we suggest you retain an attorney to represent you.

Get Legal Help Today

Find the right lawyer for your legal issue.

 Secured with SHA-256 Encryption