Can A QuitClaim Deed Be Stopped From Getting Filed?
Can a Quitclaim deed get stopped before filing? I am running into a situation where my fathers trust QuitClaimed the property to us. However, getting over the initial shock, we see the tax ramifications are sever with the property taxes tripling when we get the property. Is there a way to avoid this or should the trust just sell the property and gift the proceeds, under 1 Mil.
if you had this done through an attny. they may be able to stop it before its recorded...kenmax
If you hold the QCD it's up to you, if and when you so decide, to record or not.
But if the IRS learns you have the deed, you'll be taxed whether or not you make it public.
If your dad's still living and mentally competent, you & he maybe should get some pro tax advice as to a better way to handle his estate and property while he can yet do it...once he's gone or non compos mentis, no dice and what's done is done!
[addsig]