Question

How to report quit claim deed?

Forum|Forum|2 years ago
January 27, 2024
2 replies
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how to report house gift?

TurboTax Free Edition Online

Employee

The donor (person from whom you received the gift) must file a Form 709. You, the donee, do not need to report it under normal circumstances.

See https://www.irs.gov/instructions/i709#en_US_2023_publink16784xd0e314

M

Mike9241

If you want to ensure that your quitclaim deed is legally binding and enforceable, it is recommended that you record it at the county recorder’s office in the county where the property is located. If you are using an attorney, paralegal, or title company to handle the transaction for you, they will take care of this. If you are doing it yourself, you will need to go down to your county recorder’s office. It’s a good idea to call ahead to ask what documents they require

A

Anonymous_

Employee

Deeds that are properly executed are legally binding and enforceable with respect to the parties named on the deed. The reason deeds are recorded is to give record notice to everyone else of the grantee's interest in the property. It's always advisable to record a deed, regardless.