Legal Question in Real Estate Law in Florida

Re: quit claim deed

We have a department dedicated to Real Estate, as well as Tax/Estate Planning issues. Depending upon where you are located, you may want to give our office a call. We are in S.W. Florida. 239-334-4121. I would be happy to refer you to one of our Real Estate attorneys or Estate Planning practitioners. L.Anton

Re: quit claim deed

Seek the advice of an attorney experienced in real estate, probate and estate tax planning matters. I do not have the probate and estate tax planning expertise, but I can refer you to a highly qualified attorney who does if you call my office. 305-445-0937.

Re: quit claim deed

NOTE: This communication is not intended as and should not be interpreted as legal advice. Rather, it is intended solely as a general discussion of legal principles. You should not rely on or take action based on this communication without first presenting ALL relevant details to a competent attorney in your jurisdiction and then receiving the attorney's individualized advice for you. By reading the "Response" to your question or comment, you agree that the opinion expressed is not intended to, nor does it, create any attorney-client relationship, nor does it constitute legal advice to any person reviewing such information, nor will it be considered an attorney-client privileged communication. If you do not agree, then stop right here, and do not read any further.

A Quit Claim Deed.

Be sure you complete it properly, however. Any error may void your intentions and have severe tax consequences for your mother as she could lose her homestead exemption...or a portion thereof.

Also, there are tax implications of a quit claim deed as you suggested that should be reviewed with a qualified real estate attorney. Although you may save money on the probate of mom's estate, you may incur substantial tax consequences as a result of the stepped-up basis of the value of mom's property.

Scott R. Jay, Esq. 305-249-8000

Re: quit claim deed

Your mother should consult with a qualified attorny to be sure she effectuates her intentions. In addition to effectively changing the title to the property, there may be substantial tax consequences.