Quit Claim Deeds and Excise Tax?

Asked about 4 years ago - Everett, WA

When my father died a piece of real property was given to us. My sister, my wife and I are currently on the title. My sister is going to sign a quit claim deed so the property will become soley mine and my wife's. I am giving her some money for her share. Does she have to pay exise tax? The title really isn't changing hands, my sister is just giving up her interest.

Attorney answers (2)

  1. Ayuban Antonio Tomas

    Pro

    Contributor Level 20

    Answered . Yes she will have to pay, the deed will be changed and this will trigger the transfer tax.

    THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual legal advice can only be provided after consultation by an attorney licensed in your jurisdiction. Answering this question does not create an attorney-client relationship or otherwise require further consultation.

  2. Kerry G. Patton

    Contributor Level 14

    Answered . It is almost certain that tax will have to be paid when the quitclaim is recorded. Check with the clerk where the deeds are recorded to verity, and to find out the amount in your jurisdiction.

    (THESE COMMENTS ARE NOT LEGAL ADVICE. They are provided for informational purposes only. Actual legal advice can only be provided after consultation by an attorney licensed in your jurisdiction. Answering this question does not create an attorney-client relationship or otherwise require further consultation.)

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