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Maryland Gift Deed One Individual to Two Individuals as Joint Tenants Form

Maryland Gift Deed One Individual to Two Individuals as Joint Tenants Form

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[Music] what is a gift deed it's a deed where you transfer ownership from one party to another typically it's used by family members to give a gift of a property to a loved one it can be done fairly quickly but we need to have the sellers come in sign the deed and it is their property after that we don't use gift deeds for the most part in this office nor do most attorneys instead we just use a special warranty deed but it's a big reason why a lot of folks don't even use giftings anymore is the tax consequences and sometimes it's best to wait until the person passes away so they get a stepped-up basis you can do other deeds and offer the same thing such as a transfer on death deed it can be gifted in the future and can be revoked unlike a gift deed cannot be revoked should you have any other questions give us a call at 210-468-1831 or you can email me directly at victor mosslawfirm.com take care

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