Can I gift my home to my daughter?

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Can I gift my home to my daughter?

Deed to home is in my name and my father
who passed in December. Want to gift to
my daughter.

Asked on May 9, 2018 under Real Estate Law, California

Answers:

SJZ, Member, New York Bar / FreeAdvice Contributing Attorney

Answered 3 years ago | Contributor

First you need to get it wholly in your name. Presumably, you are legally entitled to 100% ownership, either as a function of how the home was owned (e.g. if you and your father owned it as "joint tenants with right of survivorship" or "JTROS"), or by the terms of a will (if your father left his share to you), or by the functioning of "intestate succession" (who inherits in your state if there is no will), which would have made you the sole owner on your father's passing if he was not married at the time and you had no surviving siblings then.
So step one is to get the deed out of (in part) your late father's name and wholly into your own name. Then once it is, you can quit claim or otherwise deed it to your daughter. Once you are the 100% owner, you can gift or sell it as you please. A real estate attorney should be able to help you with all the steps; you should consult with one. You may also wish to consult with a CPA or other tax preparer, to see what the tax impacts are of various possible ways of transferring the home.


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