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Updated over 4 years ago,

User Stats

552
Posts
181
Votes
Susan O.
  • Fresno, CA
181
Votes |
552
Posts

Quitclaiming one person off joint tenancy- family

Susan O.
  • Fresno, CA
Posted

I bought a property with a family member (son) and want to put it just in the sons name

We bought it in 2016 as Joint tenancy.  For him to get loan I put my name on property, but he made all the payments for the property.  Also, I gave him a loan for part of the downpayment that he has been paying me back at 4 %

I wanted to quit claim him off my share. I just wanted to make sure 1. this won't raise property taxes 2. they won't make him do gift tax.

I didn't contribute anything to him except help him qualify for loan and give another loan for downpayment.

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