New Cumberland, PA asked in Estate Planning for Pennsylvania

Q: My wife is not on the deed to our home. Do I need to record a quit claim before a Revocable Living Trust ?

We would be the only trustees on the trust.

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1 Lawyer Answer
Michael Cherewka
Michael Cherewka
Answered
  • Estate Planning Lawyer
  • Wormleysburg, PA
  • Licensed in Pennsylvania

A: there are a number of open questions here. Is there a mortgage on the home? Is the Living Trust in your name only or is it a joint living trust? also, a caution. the PA Department of Revenue is reading Living Trusts very closely and taking a very narrow view of what qualifies as Living Trust exempt from the Realty Transfer Tax. you will want to consult with an attorney before you prepare a new deed in name of your Living Trust to make sure you do not get a surprise bill for realty transfer taxes

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