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What are the tax ramifications of quit claim deed of a home

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What are the tax ramifications of quit claim deed or a warrantee deed of a home (paid - no mortgage) to a friend (not a relative)? Value of home +/- $500K, in Maricopa County, Arizona
If you mean that title is transferred without any return consideration/payment, then the gift is taxable to the grantor to the extent of everything over $14,000. However, as long as the grantor's lifetime maximum nonexempt gifts are less than $5,250,000, then while it's required that the gift must be reported to the IRS on Form 709, there would still be no tax to the grantor, or to the grantee who receives the gift.

No gift tax would be due under Arizona law, either.

So, no tax effect at all.

Hope this helps.
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