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  1. #1
    Join Date
    Apr 2006

    Default Quit Claim and property taxes

    My wife aunt wants to quit claim her half of the rental property she owns with my wife parents (mother passed away 3 years ago). Her father also wants to quit claim his half to my wife. I believe when parents quit claim property to their childern there is no change in the assessed value and property taxes. Is this also true between an aunt and niece? Would it be better for her aunt to quit claim the property to her father and then him to my wife. We are trying to avoid the re-assessment of the property and increase of property taxes.

    Thank You

  2. #2
    Join Date
    Sep 2005
    Behind a Desk

    Default Re: Quit Claim and property taxes

    It's parent-child (or grandparent-grandchild) only.

    I haven't personally encountered the double transfer. I would want to double-check the legality and tax consequences of such a double transfer with a real estate lawyer.

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