NCdeeds.com gift deed

GIFT

A real estate gift deed may be used for making a gift to your spouse, children or grandchildren, or for transferring real property to a living trust, corporation, limited liability company or other business entity you own, or for gifting property to a charitable organization.

With recurrent (i.e. annual) deed transfers, real estate may be gifted in partial increments so as to fall within the $14,000 annual federal gift tax exclusion.

Other tax consequences may apply to gifts. When you gift real estate to another person, for example, the property retains its income tax basis.

A real estate gift deed may be used for making a gift to your spouse, children or grandchildren, or for transferring real property to a living trust, corporation, limited liability company or other business entity you own, or for gifting property to a charitable organization.

Upon sale of the property the new owner will be liable for capital gains tax on the increase in value from

the time the gift giver originally purchased it. Compare the results

of a life estate deed upon capital gains tax liability.

Gifts to charities are, of course, tax deductible.

A real estate gift deed may be used for making a gift to your spouse, children or grandchildren, or for transferring real property to a living trust, corporation, limited liability company or other business entity you own, or for gifting property to a charitable organization.

Upon sale of the property the new owner will be liable for capital gains tax on the increase in value from

the time the gift giver originally purchased it. Compare the results

of a life estate deed upon capital gains tax liability.​​

Gifts to charities are, of course, tax deductible.

of a life estate deed upon capital gains tax liability.