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We own a condo together as loan, title(deed) and husband…

We own a condo together...
We own a condo together as loan, title(deed) and husband agrees to quit claim deed in order to transfer me as sole ownership.
I'm aware of that when future sale, capital gain tax exemption would be $250k for single ownership..Is it correct?
My question is that...
Is there any fee to transfer me during a quitclaim deed?? I don't mean about quitclaim deed processing fee. I mean any transferral fee for title change???When future home sale, I heard some buyers can ask for clear of title. What does it mean? Do they worry about any shady thing on deed(title) change even if mortgage payment is on time??
Then, how do I convince buyers for everything is clean and a confirmed owner?Thank you
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Answered in 53 minutes by:
8/1/2017
Richard
Richard, Attorney
Category: Legal
Satisfied Customers: 56,897
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Good morning. 1) Yes, pursuant to Section 121 of the Internal Revenue Code, as a single owner of a principal residence, you can exclude up to $250,000 in gain from the sale of that principal residence. 2) There would be no transfer fee for a quit claim deed from one spouse to another. 3) To make sure you have a clean title, you would get a title report on the property...you can do this yourself by going to the real property records of the city/county in which the property is located or any title company will do it for you for a nominal fee.

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Richard
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Customer reply replied 10 months ago
Thank you so much!!!! Sincerely ***** *****!!!! Big help!!

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