Legal Question in Real Estate Law in Maryland

Re: Deeds

You will have to prepare a deed to be signed by the ex and your father, conveying the property to your father. This should be done right away to avoid paying transfer and recordation taxes. Deeds must have precise language in order to be valid, and while there are forms that you can get at office supply stores and on line, you would be wise to have a real estate attorney prepare the deed for you.

As for the second part of your question, it would be a bad idea your father to make an outright gift of the property to you. This is because you would acquire the property for tax purposes at your father's original basis (cost, plus any improvements he made). So when you sold the property, you would have a large capital gains tax to pay. You would be better off having him deed a life estate to himself and the remainder to you, or just leave you the property in his will. Again, consult an experienced real estate attorney for details.