Legal Question in Real Estate Law in North Carolina

Real Estate Transfer

My parents want to transfer their home to my brother. There are no liens on the property. Will this transfer be subject to gift tax or any other type of tax? What document would be used in the transfer?


Asked on 2/02/07, 11:54 pm

1 Answer from Attorneys
Jeff Rosner Rosner Law Firm P.A.

Re: Real Estate Transfer

Yes it would be subject to gift tax - consult with CPA or tax attorney.

A deed effectuates the transfer and needs to be recorded to give record notice to third parties.

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Answered on 2/04/07, 7:57 am


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