Legal Question in Real Estate Law in California

Re: Quick Claim

there is no "sales tax" on the sale of a home, there is capital gains tax. If you lived in the SB home for 2 out of the last 5 years, you can exclude $250,000 of capital gain.

If it was a rental property, you do not have an exclusion, and you have not done an exchange that would qualify for deferral of the tax. You are stuck with paying the tax, now.

Re: Quick Claim

I guess I don't understand your question, but it may be helpful to point out that:

1. There is no sales tax on real estate;

2. You can't quitclaim property you don't own; well, actually, you can, but it has no effect and could be considered an attempt to perpetrate a fraud on the grantee.

3. Real estate sales do have an effect on your income tax and the county property tax valuation and annual tax bill. These changes reflect profit or loss, or change in assessment.

Real estate brokers and title companies are good sources of answers to routine questions of this kind. Sounds like you could also use the services of an estate-planning attorney.