Legal Question in Tax Law in California

who will pay the tax?

If I were to quick deed some property into my son's name will I be responsible for any taxes on that property? There are no back taxes. He wants to sell the property to buy other property.


Asked on 4/19/00, 6:45 pm

1 Answer from Attorneys
Christopher Enge Law Offices of Christopher J. Enge

Re: who will pay the tax?

Depending on the value, you will likely owe gift taxes. If you plan to sell the property right away, then you likely do not need to worry about Prop 13 reassessment. DO NOT DO THIS without running the idea past a good tax advisor.

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Answered on 4/29/00, 12:09 pm


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