Can a divorce settlement override a quit claim deed? Unlikely. If one spouse pays the other spouse his share of a property and he signs a quit claim deed, the first spouse does not owe the other one any money for a home. But when you're going through a divorce with assets, the judge will look at all the assets when deciding how to divide up property.
What do you have to do in terms of taxes if you gift your share of a property using a quit claim deed? It depends on how much equity you own in the property. If you have less than $11,000 in equity in a property you likely don't have to do anything. If you own more equity than that, then you may have to file forms with the IRS describing the value of your share of the property that you quit claimed. An accountant or estate planner should be able to help you determine the tax implications of signing a quit claim deed.
When you're buying a new construction home it helps to have a real estate agent to assist in the transaction. While you may think you don't need a real estate agent to help with a new construction purchase, the builder or developer has likely already included the cost for an agent in the selling price. The seller may not change his price just because you want to buy without a real estate agent.
