Atlanta, GA asked in Real Estate Law for Georgia

Q: My father in law is going to sign the property deed over to us do we need an attorney for this and what forms do we need

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1 Lawyer Answer
  • Cary, NC
  • Licenced in Georgia

A: You need a real estate attorney. There are no forms unless you are thinking of using a quit claim deed form that you buy at an office supply store or legal forms place on the internet.

Don't be cheap and think you will save a few bucks because if something does not go right then you will end up costing yourself way more in legal fees to get a mess cleared up. Go to a real estate lawyer and have a proper deed prepared. Deeds are not all that expensive.

However, some issues arise. While its swell that your father-in-law wants to give you property, there are gift tax consequences for him if the property is over $13,500 in value. If the land is highly appreciated in value, there might also be a capital gains issue. Also, will he be needing Medicaid any time in the next...

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