Quitclaim Tax?

[Byron Bohlsen]

Hey Folks,

My father and I submitted a purchase agreement for a property with both our names on it, the idea is to use his heloc to finance 100% of the price, and then refinance into a mortgage solely under my name after the rehab.

If we quitclaim his name off the title after the refinance does that trigger any tax implications? 

Thanks.