Real Estate Law
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To avoid taxes would it be better to use a quitclaim or gift deed and why, and would the title transfer affect the property taxes?
Either one will accomplish the same thing. There is no difference tax-wise because if it is a transfer for less than fair market value, you are making a gift of the value of the interest transferred.
And no, if this is a transfer from a parent to a child, it would not trigger a reassessment as this is an exempt transfer.
Just a second..
Using either type of transfer would result in there being a gift made from you to your son and potential gift taxes being due from you. The recipient doesn't pay any gift tax.
However, you can avoid any gift taxes by filing an IRS Form 709 in the year of the gift with your taxes. This will allow you to use up a portion of your $5.45 million lifetime gift tax exemption and avoid paying any gift taxes.