In CA. how do I file a grant deed when deeding property to my daughter as a gift?
What forms will I need if any? What needs to be notorized? I have a blank grant deed. Will there be tax ramifications for me? When I go to file it will they need her to be there too? She lives on the property but it is in a different county. Could I mail it with the original deed and notorized grant deed and have her file it ? The property is free and clear. I would like to give it to her now instead of waiting til I'm gone.
- yeLv 41 decade agoFavorite Answer
Check out these links for possible answers to your questions:
Here's a form you must complete: http://www.ci.colton.ca.us/Documents/Engineering/F...
It may be best to contact your county court, or your accountant if you need further info.......
Hope this helps.
- Brite TigerLv 61 decade ago
A grant deed is the most common deed used in California because of the implied warranties which protect the grantee. A grant deed implies that the grantor has not given any title or interest in the property to anyone else and that the property has no encumbrances or loans on it, except for those specifically disclosed in the purchase and sale agreement. With a grant deed, the grantor typically gives the property free and clear to the grantee. More than 90 percent of the deeds recorded in the state are grant deeds.
If the grantor breaches the implied warranties in a grant deed - for instance, by not disclosing an unpaid debt on the property - the grantee may rescind the deal and get any payment back, or may sue for any loss of value that occurred.
The less common type of deed, a quit claim, offers no warranties or protections to the grantee. It simply grants whatever rights the grantor has, if any, to the grantee. You can issue a quit claim on the Brooklyn Bridge if you want, even though you own zero interest in it.
A quit claim plays an important role in some property sales. For instance, if a married person is selling sole and separate property, the title company frequently will ask the seller to provide a quit claim from the spouse. This quit claim reassures the title company that the spouse will not claim half-ownership once the sale occurs.