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lwpat, Attorney
Category: Legal
Satisfied Customers: 25387
Experience:  Actively practicing trial attorney
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My wife and I own a property with market value of about $260,000.

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My wife and I own a property with market value of about $260,000. If we want to give the property to my daughter by giving her each year the value within the anuual exclusion of gift tax---$26,000 per couple, how to file it? Do we have to change the grand deed every year with percentage of each ownership being changed every year as well?
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All you have to do is to give them a quit claim deed every year for a percentage of the property.
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