Kaybru20
Returning Member

Life estate deed

I would love to get a answer ASAP on a life estate deed my name is on..I am named remainderman on my sons dads life estate deed…I want to remove my name but don’t know if taxes will be involved? The house was quit claimed to me! Will my son’s dad or myself have to pay taxes if I quit claiming it back to him? We both agree on this but don’t know if  there’s any taxes involved?  I’m getting mixed answered, one said not sure, one said no because of a life-time excursions??  Can you help explain this Please?  We live in RI