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Matthew Breecher
Matthew Breecher, Certified Public Accountant (CPA)
Category: Tax
Satisfied Customers: 251
Experience:  Director
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Can an individual person that has a property in their

Customer Question

can an individual person that has a property in their business (sole proprietorship) name execute a quit claim deed to a relative. Or does it need to be transferred to the individuals name first and then to the relative?
JA: Because real estate law varies from place to place, can you tell me what state this is in?
Customer: md
JA: Has anything been filed or reported?
Customer: yes ownership was filed in county records under the d/b/a entity of his business
JA: Anything else you want the lawyer to know before I connect you?
Customer: no
Submitted: 1 month ago.
Category: Tax
Expert:  Matthew Breecher replied 1 month ago.

Hello, I would like to assist with your question. Please remember, as per the terms of this website, Answers of Experts on the Site are to be used by Customers for general information purposes only, not as a substitute for in-person evaluation or a specific professional opinion.

Expert:  Matthew Breecher replied 1 month ago.

In short, yes the property can be transferred via a quit claim deed. That is commonly used to transfer property or re-title property as joint tenants with right of survivor-ship. However, there could be tax implications.

Expert:  Matthew Breecher replied 1 month ago.

I hope I answered your question with sufficient detail, accuracy, and completeness based on the facts communicated. I would be happy to expand my answer should you need clarification; before you rate my answer. Accordingly, please rate my answer, based on thoroughness and accuracy, rather than any good or bad news/content. We (the experts) are only compensated when an answer is accepted and rated. I appreciate your prompt response. Sincerely, ***** ***** Breecher, CPA.

Expert:  Matthew Breecher replied 1 month ago.

Hello, I just wanted to check in with you and see if you need further information. If not, please provide a rating as we the experts are only compensated for our time when an answer is accepted.

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