Property Title Transfer

[PeteDotsey]

If you transfer a property to an heir prior to death and it is under the inheritance taxable amount, does the owner or heir need to file any tax forms regarding the title transfer

[Anonymous_]

If the fair market value of the property exceeds the annual gift tax exclusion amount ($18,000 for 2024) a gift tax return (Form 709) may be required to be filed (depends upon the circumstances).

[Anonymous_]

You should consult with local legal counsel prior to transferring any interest in the property.