Legal Question in Wills and Trusts in Florida

If he wants to transfer it before his death, he would use a deed, preferably a warranty deed. As far as taxes, unless he has a very large estate (in excess of $3.5 million), it is unlikely that there would be any taxes payable - gift, estate, or income. However, she would take his cost basis in the condo (usually what he paid for it) for capital gains purposes - meaning if she sells it she will pay capital gains tax on any amount received in excess of her dad's cost basis. Talk to an attorney about preparing the deed and he can answer the question as to taxes.