@fpc wrote:
I'm thinking it would be easier and more straight forward to use the 709's. There are four siblings involved and we'll have to guide each one through this process. Having them each file Quit Claim Deeds would prove challenging and time consuming.
Yes, but if quitclaim deeds are not used, you will have to guide them through the process of filing their 709s (if that route is selected). The form may appear "easier" and "straightforward" compared to a quitclaim deed but appearances are deceiving.
There are still other options available.
One such option would be to simply allow the sibling to occupy the property as that sibling's main residence with the understanding that the sibling will be responsible for all of the expenses connected with the property (e.g., property taxes, utilities, insurance, etc.).
