Legal Question in Real Estate Law in Texas

Real Estate Gift Deed in Texas

My mother is currently in hospice care and wants to put ''our home'' (which is paid for) in my name and no longer in hers. As near as I can gather from speaking with the County Clerk's office is that I simply need to supply them with a notarized document stating that she is giving me the home - there is apparently no ''official'' form to fill out. Is this dangerous ground and should I get an attorney to handle this?


Asked on 1/27/09, 8:55 am

1 Answer from Attorneys
Cheryl Rivera Smith The Smith Law Firm

Re: Real Estate Gift Deed in Texas

Before you do anything, talk to a CPA. By transferring title, you may be jeopardizing Medicaid benefits if she has them. Also, with a gift transfer such as this you may be losing the stepped-up basis that you would receive upon inheritance, thereby subjecting you to increased capital gains taxes at a later date.

Read more
Answered on 1/27/09, 11:33 am


Related Questions & Answers

More Real Estate and Real Property questions and answers in Texas