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  1. #1
    Join Date
    Dec 2007
    Posts
    1

    Default Revoking Joint Tenancy

    My mother gave me joint tenancy to her house (in California) a few years ago assuming that would make transfer of the property easier on her death but did not know there would be capital gains consequences for me in the event of sale of this property after her death. She now has a will and living trust and wants me to inherit the house instead.

    Is a quit claim deed the best way to remove me from the title, and will I be subject to gift taxes if does so?

  2. #2
    Join Date
    Sep 2005
    Location
    Behind a Desk
    Posts
    98,846

    Default Re: Revoking Joint Tenancy

    For untangling this type of thing, I suggest you get the advice of a real estate lawyer. Take the title work with you.

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