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What Can I Do About Inheriting Property That Has A Mortgage?

What Can I Do About Inheriting Property That Has A Mortgage?

By Ilyce Glink| 2019-11-21T15:25:45-06:00 October 6th, 2017|

What can I do about inheriting property that has a mortgage? This reader wants to know if they can execute a quitclaim deed to absolve themselves of mortgage payment responsibilities. Q: I have inherited a 25 percent interest in a home along with three other siblings. I do not want my 25 percent and want [...]

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Using a Quitclaim Deed to Avoid Taxes

Using a Quitclaim Deed to Avoid Taxes

By Ilyce Glink| 2018-03-15T13:51:25-05:00 January 10th, 2013|

A quitclaim deed conveying the title of a home to a living trust can result in a stepped up basis when selling the home, but if it is unrecorded it likely will not be of any help. Q: In response to your recent article about a father who transferred title in his home to his [...]