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Hello, I’m looking for...

Hello, I’m looking for advising on deed transferring? Do you think you would be able to assist me?

Lawyer's Assistant: What steps have you taken so far? Have you prepared or filed any paperwork?

So I was a grantee of a quitclaim with two other co-owners in 2013 for a parcel located in G**, **N. We are now looking to quitclaim to another party. I was thinking of quitclaiming my ownership to the other two co-owners before the quitclaim to the new grantee because I don’t want my name recorded. Would it make a difference if I quit claimed with them or not?

Lawyer's Assistant: Where is the property located?

3*** H*****St**y, *****N

Lawyer's Assistant: Anything else you want the lawyer to know before I connect you?

Yes, the address is recorded on the lake county website but my name only shows in the quitclaim deed that is scanned to the record. If you searched my name nothing will come up. However, for the tax parcel records, my name

Submitted: 4 months ago.Category: Real Estate Law
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Customer reply replied 4 months ago
My name is ***** ***** the tax parcel records. I am trying to avoid my name being recorded.
Customer reply replied 4 months ago
Posted by JustAnswer at customer's request) Hello. I would like to request the following Expert Service(s) from you: Live Phone Call.
Customer reply replied 4 months ago
Let me know if you need more information, or send me the service offer(s) so we can proceed.
Answered in 9 minutes by:
3/15/2018
Real Estate Lawyer: Loren, Lawyer replied 4 months ago
Loren
Loren, Lawyer
Category: Real Estate Law
Satisfied Customers: 38,718
Experience: 30 years of real estate practice experience.
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Thank you for using JA. I am Loren, a licensed attorney for over 30 yrs., and I am here to help.

I am a certified expert on JustAnswer since 2009, with nearly 100% in satisfied customer ratings. So, we should be able to work through your problem.

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Real Estate Lawyer: Loren, Lawyer replied 4 months ago

I am not quite sure what you want to accomplish.

If anonymity is all you want then why not transfer your interest to a single member corporation or LLC. Then the name on the deed will show as the LLC.

If you convey your interest to your partners it will take you out of title and could also have unintentional tax consequences.

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Customer reply replied 4 months ago
What do you mean by unintentional tax consequences?
Real Estate Lawyer: Loren, Lawyer replied 4 months ago

The IRS can take the position that the transfer was for value and impute market value to the transaction. That would be treated as capital gains.

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Real Estate Lawyer: Loren, Lawyer replied 4 months ago

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DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

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