Disclaimer or Quitclaim

What is the name of your state? CA
My wifes mother died 3 years ago, and left (in a trust) a property to her daughter (my wife), and her son (my wifes brother.) He is fine with giving his interest in this property to my wife (his sister, and co-beneficiary). We have a (not recordered) quitclaim, but it needs notorization (I think), and certainly recordation. Now, my wife has been listening to some CPA who has suggested that a 'disclaimer' is easier to deal with, and offers the same end result. Is This Correct? Does the property end up as solely my wifes, and what are the differences in tax ramifications, if any?
Thanks, Tex

I thought you would have jumped on this. I hoped you had info!??! :

You should definately take the advice of your Tax Attorney or seek other legal counsel. They would be best to ask. This is too touchy for any of us to help you with !!

[HomeGuru]

Originally Posted by texasfred

What is the name of your state? CA
My wifes mother died 3 years ago, and left (in a trust) a property to her daughter (my wife), and her son (my wifes brother.) He is fine with giving his interest in this property to my wife (his sister, and co-beneficiary). We have a (not recordered) quitclaim, but it needs notorization (I think), and certainly recordation. Now, my wife has been listening to some CPA who has suggested that a 'disclaimer' is easier to deal with, and offers the same end result. Is This Correct? Does the property end up as solely my wifes, and what are the differences in tax ramifications, if any?
Thanks, Tex

**A: and what exactly is this supposedly "disclaimer" supposed to do?
The quit claim deed is the proper instrument.

[BelizeBreeze]

Originally Posted by HomeGuru

**A: and what exactly is this supposedly "disclaimer" supposed to do?
The quit claim deed is the proper instrument.

Besides, taking property law advice from a CPA is the same as going to your mechanic for heart surgery. It's all plumbing but the savings aren't that much

[HomeGuru]

I did that once and the mechanic said that my heart was fine but I was full of gas.

[BelizeBreeze]

And did your CPA cyphone you????

[HomeGuru]

Originally Posted by BelizeBreeze

And did your CPA cyphone you????

**A: no but he was a CPA alright, a Certified Pain in the Ass.

[BelizeBreeze]

Originally Posted by HomeGuru

**A: no but he was a CPA alright, a Certified Pain in the Ass.

I thought that was a proctologist or a Republican

[HomeGuru]

So writer, we would like to know what the heck this so called CPA is talking about.

then you're NOT the one from whom I shall rely upon for an answer.

"I'd gladly pay you Tuesday, for a hamberger that I would eat today!"

[HomeGuru]

Originally Posted by texasfred

then you're NOT the one from whom I shall rely upon for an answer.

"I'd gladly pay you Tuesday, for a hamberger that I would eat today!"

**A: ok, then let's agree that that CPA you talked to was full of crap.

[nextwife]

" We have a (not recordered) quitclaim, but it needs notorization (I think), and certainly recordation"

I've never heard of title being transferred via a "disclaimer". Get that notoreous deed resigned, notarized and recorded.

[HomeGuru]

Originally Posted by nextwife

" We have a (not recordered) quitclaim, but it needs notorization (I think), and certainly recordation"

I've never heard of title being transferred via a "disclaimer". Get that notoreous deed resigned, notarized and recorded.

**A: and get that notorious CPA strung and hung.