For example, if your house was worth $200,000 with a $100,000 mortgage balance when the quitclaim deed is recorded, you would have to pay real estate excise tax on that $100,000 debt assumption.

James Chen, CMT is an expert trader, investment adviser, and global market strategist. Charlene Rhinehart is a CPA , CFE, chair of an Illinois CPA Society committee, and has a degree in accounting and ...

Question: I have another question about quitclaim deeds. My wife owned a house prior to our marriage. After we got married, she filed a quitclaim deed to add me as a co-owner to the house. Is this ...

I had a client in this week for her annual review of her fully-funded trust-based estate plan. She asked me about other types of planning by acquaintances about which she has become aware, and the ...

What is a quitclaim deed? It's a legal document that transfers any ownership claim, interest, right or title a person or entity may have in a property to someone else. In effect, it releases (or quits ...

Reina Marszalek is a senior mortgage editor at Fox Money who has spent more than 10 years writing and editing content. Fox Money is a personal finance hub featuring content generated by Credible ...