Deed Transfer

I reside in the state of new jersey. my brother, his spouse and my father are the present owners. we are in the process of refinancing the house but only under my father's name and adding mine. everything has been approved but i'm not sure of the tax conseguences for my brother and his wife and is the gift tax law an issue. there is money being generated from the refinance. thanks for the advice

Jose

If what you mean is that your brother and his spouse are giving their portion of the house to you and your father, then there would be a gift that each of them is making equal to the value of the equity in their shares in the house they are giving up. Whether there is a gift tax depends on if the gifts exceed the $10,000 annual exclusion and the $675,000 lifetime exclusion available to each of them.