Legal Question in Real Estate Law in Nevada

Quitclaim Question

Hi - My mother wants to put both me and my sister on the title to her condo, with rights to survivorship. What is the correct form or forms to get this done in Nevada? I've looked at Quitclaim, General Warranty Deeds and Special Warranty Deeds and I'm pretty confused as to what I need. If it's any help, the condo is paid for and is unencumbered by any liens, etc. Thanks - I appreciate your help!


Asked on 10/07/08, 4:22 am

1 Answer from Attorneys
James Smith James E. Smith Ltd.

Re: Quitclaim Question

Mother will be subject to gift tax if she deeds to you two. Better to put condo on trust in mom's name with you two named as beneficiaries. Deed condo to trust and get a stepped up basis on future tax.

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Answered on 10/07/08, 10:58 am


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