Deeds: Difference between revisions
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=Adding a Partner to a Deed= | =Adding a Partner to a Deed= | ||
*Alvin Rabushka's Flat Tax would simplify land tenure issues. | *Alvin Rabushka's Flat Tax would simplify land tenure issues. | ||
*For couples - use a Right of Survivorship | *For couples - use a Right of Survivorship. This avoids probate. | ||
*Tenants in the entirety - | *Tenants in the entirety - with right of survivorship | ||
*Capital gains taxes may apply, so Transfer on Death is preferable for capital gains purposes. | *Capital gains taxes may apply, so Transfer on Death is preferable for capital gains purposes. | ||
*Procedure: obtain a quitclaim form from local recorder's office. Sign (one or both, depending on county) in presence of a notary. May require a Spousal Affidavit. | *Procedure: obtain a quitclaim form from local recorder's office. Sign (one or both, depending on county) in presence of a notary. May require a Spousal Affidavit. | ||
*Tenancy in Entirety protects other partner in case of suit, other partner is not exposed if one partner is sued. | |||
Revision as of 20:26, 6 April 2018
This is part of OSE's treatment of Real Estate Law.
Adding a Partner to a Deed
- Alvin Rabushka's Flat Tax would simplify land tenure issues.
- For couples - use a Right of Survivorship. This avoids probate.
- Tenants in the entirety - with right of survivorship
- Capital gains taxes may apply, so Transfer on Death is preferable for capital gains purposes.
- Procedure: obtain a quitclaim form from local recorder's office. Sign (one or both, depending on county) in presence of a notary. May require a Spousal Affidavit.
- Tenancy in Entirety protects other partner in case of suit, other partner is not exposed if one partner is sued.