27 answers

How Do I Go About Transferring a Title?

My parents are giving me their home. How do I go about getting everything transferred over to my name. I have contacted the Tax Office and they could not give me any assistance. The home is paid off.

1 mom found this helpful

What can I do next?

Featured Answers

I don't have a specific answer to you, but I would call a title company. I would think they would be able to help you or point you in the right direction.

This has to be done via a deed and in order to avoid certain penalties, etc it has to be handled a certain way.

You can contact the People's Lawyer - www.peopleslawyer.net. They have all answers pertaining to legal.

We used a very nice female attorney in Round Rock. She was great and not expensive. We transferred two rental properties. I can get her name if you live near and if you want it. Just reply to this email.

More Answers

Belinda is totally correct. So is Bonnie. You need to seek an estate attorney or a tax-estate specialist!
If you go about this the wrong way, you could be severely penalized in the tax area for years. It could affect taxes owed, retirement accounts and kids' college funding (if applicable.)

Don't listen to someone's opinion about how they did something years ago, either. Tax law changes every year---and does NOT change to your benefit.
Do not go buy a kit at an office supply store and do this yourself.
Spend some money on a professional to do this right.

1 mom found this helpful

I would contact a title company or a real estate agent.

I don't have a specific answer to you, but I would call a title company. I would think they would be able to help you or point you in the right direction.

Your parents need to transfer the title to you and file it with the County Tax Office. I am sure if you go on line and google it, you will find the proper forms. If all else fails I am sure a title company can assist you for a small fee.

You can call a Real Estate Attorney and ask them to do it, or you can call your local Title Company and see what they suggest. If you are in the San Antonio area, call DJ Johnson at First American Title at ###-###-#### and tell her C. sent you.

Here is the number to my realestate agent. He has been on all sides of the industry and could probably answer your question. Eric Miles ###-###-####. At one point I had heard something about paying $1 for the transfer but I don't remember the reasoning behind it. I think it was something about giving a gift greater than a certain amount and having to pay higher taxes on the gift or something to that effect.

Go to Office Max and get yourself a do it yourself leagal forms. Fill out the simple forms that are in the kit. Go to the County Court House and file it with the County Clerk, make sure that you keep a copy for your self to send off to the Tax Office so that you are paying the taxes on the home rather than your parents.
OR go to a local title company and they can handle the whole thing for around $200.
Good luck!

wow what a blessing!

GM! Find out who holds the title and then you will need to show that the house has no additional liens and then you can have it transferred into your name. But begin with the title company first. Congrats and good luck.

We used a very nice female attorney in Round Rock. She was great and not expensive. We transferred two rental properties. I can get her name if you live near and if you want it. Just reply to this email.

Federica,

Your best bet is to see a estate lawyer (as in wills and estates, not as real estate). The actual transferring of the deed is not all that challenging but you need tax advice. The money spent with the attorney will be well worth the tax advice. I am a small business attorney but have some good contacts for attorneys in this line of work. Let me know if you need a referral.

Thanks! --B.

Hi F.
Lucky you. all you need to do is have a Warranty Deed drawn up. It would be best if you can go to a title company- any one will do and have them do it for you. You will need the original Deed that shows ownership of your parents- the legal description of the property (from the original deed) and that will transfer the property to you when it is recorded. The fees are minimal. or. if you have all this information and you are sure it is correct- you can get on the internet and print off a General Warranty Deed- fill in the blanks and file it at the courthouse. But, unless you are knowledgable about real estate at all I would suggest having the title company handle the legal work for you. It is a very simple proceedure and the cost should be minimal. I am not sure about the site on the internet but if you call any real estate office and just simply ask they should be able to give you the website. The title company, if you use one may want to do what they call a title search or update- and all this does is ensure there are no outstanding liens or unpaid taxes that would cloud your title- this is not necessary if you are sure this has not happened to your parents so I would not let them talk me into this-

If you are concerned about the Gift Taxes you may have to pay- have a purchase agreement (contract for sale) drawn up and you can "buy" the house from them for as low as $1.00.

good luck and blessings
good luck and blessings

Call an escrow company (Chicago Title or 1st amercan for example)

They can help you with the paperwork to transfer the deed and any other paperwork necessary for your situation...

If they are unable to help you, they ABSOLUTELY will know who can... ;-)

You just go and get a blank deed form from Staples or an office supply store. Your parents will need to fill it out. It's pretty self explanatory once you get the form. You will need the complete legal description of the property which you can get at your county clerks office or an assessor's office. It also has to be notarized. Then you file it at your county clerk's office. There is a fee. If you need help filling it out, your notary can help you with the proper wording.

An attorney can draw up the papers to transfer title.

F.,

Check with an accountant about the tax consequences. Your parents are allowed to give you a dollar amount (like $10,000?, not sure)per year without you having to pay gift tax. However, I'm not sure about the house. It might be better to do it thru a Family Living Trust to save the taxes. Check with an attorney who is familiar with this.

This is not a "Do-it-yourself" thing to do.

BonnieW

Go to an attorney and they can do this for you for about $250.00, that is what it cost me. You do not need the title company for this transaction because it is your parents and most likely they purchased the home and used a title company. But your parents may have to pay income tax on the gift of the home, so check with your tax preparer.

Hi F.. Your parents should have the paperwork, and give you the originals in order for you to contact a lawyer, so that the title can be put in your name. Also, I believe that having it witnessed and signed in front of a notary public is tantamount for you to secure the house. Your folks sound wonderful, and I do hope that this info helps you. Take care, and God Bless you..and your parents for this wonderful news! Sincerely, G.

Please please please see an attorney before you do this!! You are subjecting yourself to gains taxes you won't necessarily have to pay if you wait to recieve the property upon their death (in which case you recieve a step-up basis in the property). Not to mention gift taxes owed by your parents! You need to see an estate attorney or tax attorney or even ask an accountant - but please do so before you transfer the property. Don't mess with the IRS - they can come after you, your wages etc.

Contact your local title company - they should be able to push you in the right direction.

You might also ask a lawyer about about putting the house in a Living Trust with it willed to you then you avoid taxes - otherwise the entire appraised value of the house is taxable to you.

call Independence Title or a Real Estate Attorney

You need to have the Deed transferred into your name. I would contact a local title company, and they should be able to give you the best advice on that, but it's my understanding you can go to your county court house to have it done as well. I know that you'll have to take the new deed there to get it recorded for sure. Good luck!

Contact a title company. They will pull the title to make sure that there are no other leins on the house, and if there are none they can draw up a warrenty deed to transfer the title into your name. Every title company has a lawyer on site so you can call one and tell them what you are wanting to do and they can help you. It will cost you about $500.00 depending on the title company.

Call a title company.

Check with your court house or government websites.

This has to be done via a deed and in order to avoid certain penalties, etc it has to be handled a certain way.

You can contact the People's Lawyer - www.peopleslawyer.net. They have all answers pertaining to legal.

do not get a form from the office supply. Go to a title company so they can research and make sure there are no surprises against the title. It's worth the little extra that you will pay.

Required Fields

Our records show that we already have a Mamapedia or Mamasource account created for you under the email address you entered.

Please enter your Mamapedia or Mamasource password to continue signing in.

Required Fields

, you’re almost done...

Since this is the first time you are logging in to Mamapedia with Facebook Connect, please provide the following information so you can participate in the Mamapedia community.

As a member, you’ll receive optional email newsletters and community updates sent to you from Mamapedia, and your email address will never be shared with third parties.

By clicking "Continue to Mamapedia", I agree to the Mamapedia Terms & Conditions and Privacy Policy.