louise christen
Junior Member
What is the name of your state (only U.S. law)? Maine.
If several siblings own a piece of property and one buys another's piece, when the seller signs a quit claim deed on his part of the property, does that trigger capital gain issues in the state or with the Federal government. In other words, does the quit claim deed action prompt information to be sent to the state of IRS? If this action does not trigger anything with the state or IRS, what does?What is the name of your state (only U.S. law)?
If several siblings own a piece of property and one buys another's piece, when the seller signs a quit claim deed on his part of the property, does that trigger capital gain issues in the state or with the Federal government. In other words, does the quit claim deed action prompt information to be sent to the state of IRS? If this action does not trigger anything with the state or IRS, what does?What is the name of your state (only U.S. law)?