What is the name of your state? Michigan
I want to transfer a house from a friend of the family into my name and I don't want to pay any taxes or capital gains on the house. My friend has agreed to transfer with no money exchanged. I would want to sell the house soon (within the next 3 years) and want to know the best way to transfer this property? There is no lien on the house. Is a quit claim deed the best way to go or would you recommend something else?
I want to transfer a house from a friend of the family into my name and I don't want to pay any taxes or capital gains on the house. My friend has agreed to transfer with no money exchanged. I would want to sell the house soon (within the next 3 years) and want to know the best way to transfer this property? There is no lien on the house. Is a quit claim deed the best way to go or would you recommend something else?