Gift Tax on Property
My mother quit claimed her house to my husband and myself for taking care of her which was our agreement. This was Jan 06 after I'd been there for 2 yrs. When my siblings found out they hired and attorney and accused me of stealing the house. I got disgusted and left. Now I want to quit claim the house into my mothers, husband and my name because I feel I deserve something. My siblings are screaming about a gift tax but want me to put the house in all of our names. If I don't do what they want they are threatening to sue me. My mother knew what she was doing so I don't think they have legal ground but I am concerned about this gift tax. What should I do? L. Matherne
1 Answer from Attorneys
Re: Gift Tax on Property
Gift taxes are payable by the donor, not the donee. You do not say if your Mother is alive or deceased, however, I suggest that you call your syblings bluff, keep the house and wait to see what they do. You should be prepared to prove that you had an agreement with your mother that you would get the house in compensation for your services rendered, and the value thereof.
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