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Updated almost 3 years ago on . Most recent reply

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Jake Paul
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Quit Claim Deed - To avoid capital gains tax?

Jake Paul
Posted

Similar post from before...but would this legally work?

I co own a property with my brother (75/25) on title. I've been living there for 2 years now. He lives in his own primary. We want to sell and hold the funds for a bigger property 1 year from now. 

For him to avoid capital gain taxes, should we do a quitclaim deed for him to be removed from the title so I can recognize the full gains?

Pros? Cons?

Any feedback is appreciated. Thanks!

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