Legal Question in Real Estate Law in Arizona
land deed
I was wondering how my father and uncle can give a 3 acre parcel of land to myself and my brother with out incuring taxes.....is it a quitclaim deed or a gift.....please help.
2 Answers from Attorneys
Re: land deed
What taxes do you refer to? Income? Property? Estate/Gift?
The gift may have ramifications on all these. We offer free, initial consultations to get all facts and see what needs to be done. 480.835.1500.
Best regards,
James D. Jenkins
Re: land deed
The answer depends on many different things, including: the marital status of all the people involved; whether your father and uncle have used up their lifetime gift tax exclusions; if you and/or your brother are married, whether your father and uncle want to give the land to your spouses too; and some other things.
You should really hire an attorney to advise your father and uncle and to draft the proper deed.
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