Legal Resources

Gifting Land to Children: What You Need to Know

By Leigh-Ann Higashi

Landowners can make gifts of real property to their children by quitclaim deed. By using this type of deed, rather than a statutory or special warranty deed, they will not be making any warranties about the property. They must execute the deed and have their signature notarized; and both they and their child(ren) must sign a Real Estate Excise Tax Affidavit and corresponding Supplemental Statement. Landowners will take or mail these signed documents to the auditor or recorder in the county where the property is located and pay any associated fees. If they do not receive anything in return (including relief of debt), then no excise tax should be due. But before giving their property away, they should consider the tax and accounting consequences of making the gift during their lifetime, rather than as a bequest at death.