Legal Question in Real Estate Law in New York

Re: Transfering from name on deed

When you receive a house you also receive the costs associated with the house, like taxes, electric, general maintenance, etc.

You would also have to file a gift tax return for the transfer, which you should talk to your accountant about.

Mike.

Re: Transfering from name on deed

The process is rather simple, assuming you have an experienced real estate attorney handling your file. An attorney should draft up a new deed reflecting the new changes and have the necessary paper recorded in the county clerk's office where the property is located. There is a fee to file a deed. The amount of the fee depends on the county of filing. You will also need to file a TP584 form and an E&A form along with the deed. If the property is in NYC, you will have to prepare the form using an ACRIS account. The whole process, without an attorney, should cost less than $200.

By way of background, our office is a full-time Real Estate firm that has been around for over 70 years. We handle these matters day in and day out. Please contact my office for further information. We would love to handle this one for you.