A quitclaim deed is exactly the document a person would use to transfer ownership interest and title for a piece of real estate, be it as a gift or sale. But there are two considerations in completing this transaction.
First, your state may require at least a nominal purchase price to be listed to complete the title transaction.
Second, the creation of a quitclaim deed does not address any tax consequences whatsoever that may result, for any of the parties involved. For details on any and all tax issues, a person should consult a licensed accountant or financial planner.
Get complete details about Standard Legal’s Quitclaim Deeds legal forms software here.