Adding spouse to house title

[kalexe]

Hi,

I'm sure a lot of you have added your spouse to your house title. Anyone have any experience doing this, specifically in Bay Area California, Alameda County? Did you have to pay any transfer tax? I have been told there is no transfer tax. But I have also been told there is transfer tax, and to be exempt it must be done as a gift. Is anyone aware of the tax implications when it is a gift?

 

Thanks,

Kal

[C4Racer]

No, you should not have to pay any taxes. Since you are remaining on the title, you can just file a Quitclaim Deed. It is the simplest way to add your spouse. You will just need to pay for the filing fee. I think I paid about $25 back in 2005.

[ed and ying]

The Quit Claim Deed is the way to go for the house. I would suggest that you also consider getting power of attorneys for health and property. We did all three at the same time with a attorney.

[ktmracer]

Added wife today here in NY state. Cost for filing was $180. Got forms from county clerk's office. Picked up some quit claim forms from Office Max, filled out 2 forms (1 for county and the other for the CR1/CR2 removal of conditions filing that is due soon) brought to Bank Of America to get notarized then back to clerk's office for filings.