Wichita Falls, TX asked in Real Estate Law for Texas

Q: What document do you need to file when a family member is gifting properties to you? I have the deeds.

Both properties are coming from 2 different family members. Both properties are valued under $15,000.00.

Will the document I need to file on both property be callers a warranty deed?

Will I have to pay taxes or file anything with the IRS? The property taxes are currently paid up to date and I was told the deeds are clear.

Thanks

Related Topics:
1 Lawyer Answer
Tammy Lyn Wincott
Tammy Lyn Wincott
Answered
  • San Antonio, TX
  • Licensed in Texas

A: You should spend the money and have a real estate attorney draft the proper deeds for you. If you have tax questions you should consult with your accountant or a tax lawyer.

Justia Ask a Lawyer is a forum for consumers to get answers to basic legal questions. Any information sent through Justia Ask a Lawyer is not secure and is done so on a non-confidential basis only.

The use of this website to ask questions or receive answers does not create an attorney–client relationship between you and Justia, or between you and any attorney who receives your information or responds to your questions, nor is it intended to create such a relationship. Additionally, no responses on this forum constitute legal advice, which must be tailored to the specific circumstances of each case. You should not act upon information provided in Justia Ask a Lawyer without seeking professional counsel from an attorney admitted or authorized to practice in your jurisdiction. Justia assumes no responsibility to any person who relies on information contained on or received through this site and disclaims all liability in respect to such information.

Justia cannot guarantee that the information on this website (including any legal information provided by an attorney through this service) is accurate, complete, or up-to-date. While we intend to make every attempt to keep the information on this site current, the owners of and contributors to this site make no claims, promises or guarantees about the accuracy, completeness or adequacy of the information contained in or linked to from this site.