Legal Question in Real Estate Law in Maryland
Transferring or giving a house as a gift
My mother gave my brother her house, thus disinheriting her other four (4) children. The house is now in his name, but
he did not sign anything, because didn't think she should do it. Is it legal to put real estate into someone elses name without them agreeing to it?
1 Answer from Attorneys
Re: Transferring or giving a house as a gift
It's perfectly legal to deed property over to someone without their consent. All your mother had to do was execute a deed in proper form. If your brother doesn't want the property, he can sell it or execute a deed to his siblings, giving all of you a share in the property.
There are gift tax and capital gains tax implications in doing this. As the recipient of the property by gift, your brother has to file a gift tax form and pay the gift tax to the IRS. If he's going to sell the property, the profit, which is the difference between what the property sells for (less expenses) and the adjusted basis at which your mother held the property (essentially what she paid for it) will be taxed at the capital gain rate.