Legal Question in Real Estate Law in California

Re: Quit Claim Deed

Yes. A quitclaim deed is merely one form of deed which can be used to transfer real property. By using the quitclaim deed the grantor is merely transferring whatever title he or she may have to the grantee, without warranty of any kind. If the grantor owns no interest in the property transferred, the grantee receives nothing. If the grantor ownes a fee simple interest in the entire property, the grantee receives that fee simple interest.

You should probably discuss your goals with a real estate attorney in your area to determine whether a quitclaim or some other deed should be used.

Re: Quit Claim Deed

yes

Re: Quit Claim Deed

Possible, yes; but does it make sense? Usually not. For gift and capital gains tax reasons, it is better to inherit property than to receive it as a gift or at a below-market price. If the motive has to do with dad's creditors or potential creditors, MediCal, etc., various laws against fraudulent transfers would get you both in trouble when the transfer was discovered, as it likely would be. Whatever your reasons for considering this deed deal, please see a real estate or estate-planning attorney before carrying it out.

Then, if you do decide to do it anyway, the attorney can prepare the deed and get it recorded without any of the drafting or procedural mistakes that beginners are prone to make when deeding property.

Re: Quit Claim Deed

Yes, it can be done, but it isn't that simple.

There are numerous taxable consequences, some good, some bad, and possibly very bad if your Dad is on Medi-Cal.

Suggest you see a real estate/tax attorney, and don't try to do it yourself.