Quick Claim Deed

**StanleySmith** · 03-21-2008, 01:06 PM

Hi all,

I made a silly mistake and I don't know how to recover from it. I was helping my parents to quick claim the house into them and myself. I ended up quick claim to myself only. Now I heard the city and county tax on the house are going to go up. I think I need to do another (new) quick claim deed that quick claim the house back to myself and my parents. Is this the only way or is there a so called revision-to-quick-claim-deed form I can use ? Is it true the taxes are going to go up if I don't make the correction ?

Thanks,

**TomAnto** · 03-21-2008, 02:32 PM

Yea, you can quit claim again to you and your parents.

Property Taxes? No idea, they are purely a locally driven issue. Many jurisdictions do allow for certain exemptions for senior citizens. Maybe that is what you are hearing? If your parents are not owners & don't pay the taxes perhaps the exemption expires. Again, property taxes are purely a local issue and I'm just speculating.

**JJohnson1985** · 03-21-2008, 08:26 PM

If your county has a government web site, the answer should be there.

If not, then call.

**Greg** · 03-24-2008, 07:57 AM

I believe you are referring to a quit claim deed? You need to talk to a good tax accountant because there are other tax liabilities that might accompany this transfer beyond the property tax issue.