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Richard, Lawyer
Category: Real Estate Law
Satisfied Customers: 53686
Experience:  32 years of experience as lawyer in Texas. I'm also a Real Estate developer.
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My husband and I have a mortgage on our house. Our son, his

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My husband and I have a mortgage on our house. Our son, his wife, and two kids live with us. We put them on the deed when we bought the house, hoping it would make it easier for them to buy the house from us in a few years. However, they no longer want the house. What is the best/cheapest way for us to remove them from the deed without having to deal with gifting, taxes, etc. They are not on the mortgage, only on the deed.
Welcome! My goal is to do my very best to understand your situation and to provide a full and complete answer for you.

Good evening. Are they willing to give up their ownership in the house? Thanks.
Customer: replied 3 years ago.

Yes, they are both willing ti give up their ownership in the house. They are also having personal issues and we want to protect ourselves in case either one files for divorce, but they both agreed to give up their right to the house... our fear is more for what NH law would demand.

Thanks so much for following up. You can handle it easily. They simply need to sign a quit claim deed transferring their interest in the house to you. The deed needs to be witnessed, notarized, and then recorded in the real property records of the city/county in which the property is located. If you need a form for the quit claim deed, let me know and I'll be happy to provide you one.

Tax wise, this will have no tax consequences. It's a gift and not income so it is not reportable or taxable on either of your income tax returns. Also, there should be no gift tax consequences. Recipients of gifts are not subject to gift tax. And, there should also be no gift tax due from the donor. Each donor can give $14,000 per year per person under the annual gift exclusion. In addition to that, for any amounts in excess of the $14,000 in a year, each person has a $5,250,000 lifetime exemption....which means a person can give a cumulative amount of up to $5,250,000 in gifts over and above the $14,000 annual gift exclusion amount without incurring gift tax....the donor must file a gift tax return to let the IRS know how much of the lifetime exemption is being used, but there will be no gift tax until cumulative additional gifts have exceeded the $5,250,000.

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Customer: replied 3 years ago.

I'm confused about the costs. According to


there are fees/taxes based on the value of the home, does that still apply?

Thanks for your reply. This relates to transfer taxes. Gifts are non-contractual transfers" which are exempt from these taxes. Pursuant to the New Hampshire Department of Revenue (

"Are there exceptions to the Real Estate Transfer Tax?
Yes, among the exceptions are:

Non-contractual transfers.
Transfers between spouses pursuant to a final decree of divorce or nullity.
Filing of a deed or other instrument that correct a deed.
Transfers to the state of NH, or a county, a municipality, or other political subdivision of the state of NH.
Transfers of cemetery plots.
Transfers that occur by devise, by intestate succession and descent, or by the death of a joint tenant.

What is a non-contractual transfer?
A non-contractual transfer is essentially a gift and is evidenced by the transferor's donative intent toward the transferee, actual delivery of the property to the transferee, and complete relinquishment of control over the property."

Just in case you need it, I've attached a template for a quit claim deed. I'm taking a short dinner break...if you have any follow ups, I will address them immediately upon my return. I hope that doesn't cause any inconvenience and appreciate your patience.

STATE OF _______________ )
COUNTY OF __________ )

KNOW ALL MEN BY THESE PRESENTS that ________________________., (hereinafter "Grantor") in consideration of the sum of One Dollar ($1.00) to the Grantor in hand paid at and before the sealing of these presents by _________________________________ (hereinafter called "Grantees"), the receipt of which is hereby acknowledged, has granted, conveyed, remised, released, and forever quit-claimed, and by these presents does grant, convey, remise, release and forever quit-claim unto Grantees, their heirs and assigns, all of its right, title and interest including any remainder interest, in the following described property:

[Property Description]

Together with all and singular the rights, hereditaments and appurtenances to said premises belonging or in anywise incident or appertaining; to have and to hold all and singular the premises before mentioned unto the Grantees, and the Grantees’ heirs and assigns forever, so that neither the said Grantor nor Grantor's successors and assigns, nor any other person or persons claiming under Grantor shall at any time hereafter by any way or means, have, claim or demand any right or title to the aforesaid premises or appurtenances, or any part or parcel thereof, forever.
WITNESS the Grantor's hand and seal this _____ day of ________________, 20__.

{Signatures appear on following page} 

Signed, sealed and delivered in the [Grantor Signature Block]
presence of the following witnesses:



STATE OF ________________ )
) A C K N O W L E D G M E N T
COUNTY OF ___________ )

Subscribed, sworn to and acknowledged before me by ____________________, Grantor, this ________ day of ____________________, 20__.

Notary Public for _____________
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