What Kind of Deed When Gifting A Property?

I answered an online question today. The writer was preparing to give a Texas property to his child and wanted to know if he should use a Quit Claim or Gift Deed.

While a Quit Claim Deed might get the property transferred, it will likely become problematic somewhere down the line when the child goes to sell the property. Texas title insurers usually will not accept a Quit Claim Deed. If the original owner cannot be found or has passed away, it can create title issues.

While I would suggest a Special Warranty Deed, it would be best to speak with a title company or attorney about this situation.

See our list of Dallas Fort Worth Title Companies.

Photo: Licensed from iStockPhoto

Originally posted at: http://www.thebranchteam.com/wordpress/2011/10/31/what-kind-of-deed-when-gifting-a-property/