Legal Question in Real Estate Law in Texas

Gift Deed property

My step-father and mother decided to gift deed their property to my children. My mother has since passed and my step-father is in bad health. My question is are there any sort of transfer fees besides the taxes on the property that my children or I will be responsible for in the passing of my step-father to make the property theirs.


Asked on 12/05/08, 7:08 am

2 Answers from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Gift Deed property

Texas does not have transfer taxes. The deed will need to be recorded and recording fees are around $20 for a typical deed. You may want to have an attorney look at this because there could be defects in the deed which would render it ineffective.

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Answered on 12/05/08, 8:43 am

Re: Gift Deed property

First, you need to clear mother's name off of the property. There should not be any transfer fees (aside from the recording fees) from your end. There may be a gift consequence from the transferor. I'm assuming that neither parent was taking an over 65 exemption (which would be lost upon transfer.) Most importantly, you would lose a step up in basis, which could result in some higher taxes when you sell.

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Answered on 12/05/08, 9:53 am


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