Legal Question in Real Estate Law in Connecticut

Re: Transfer of ownership

All it takes is a quit-claim deed from him to you. You should recite in the Conveyance Tax form that you paid whatever it is that you put into the property in his behalf (i.e., $50,000). Somebody will have to pay the conveyance tax on that amount (2% +/-), but that's probably less than if you declared you paid nothing for it. That would trigger a gift tax, which might be more. If he lived there for 2 out of the last 5 years, didn't rent it out and hasn't sold another primary residence in the last 5 years, he won't have a capital gains tax problem. If he has, then he may have a capital gain to deal with.