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Home Q&A Forum Taxes related to quitclaim deed?

Estate Planning

Quitclaim Deed

North Carolina

Asked on Oct 1, 2023

Taxes related to quitclaim deed?

I recently inherited a property from a family member. I was given a quitclaim deed transferring the title from them to me. I am trying to understand my tax liabilities related to this transfer of ownership. I am not sure if there are tax implications that I need to be aware of and I was hoping to get advice from a lawyer on how to proceed.

1 Attorney answer

Answer

Estate Planning

North Carolina

Answered 235 days ago

N'kia N.

ContractsCounsel verified

Business Lawyer
Licensed in North Carolina
Free Consultation

A person who inherits property might be subject to taxes. This includes when the person receives a quitclaim deed for the property. However, the person's tax liabilities will ultimately depend in part on the location of the property itself. For legal guidance on the tax implications of inheriting North Carolina property, you might consider consulting with a knowledgeable North Carolina estate and tax planning attorney. Good luck!

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