topic Quitclaim with prio residency in Investors & landlords

Quitclaim with prio residency

dnl2499 — Tue, 10 Mar 2026 06:29:36 GMT

My mother bought a condo in 2016 cash as a secondary family home, I have lived in in since 2020, however she quitclaimed it to me entirely in 2022. I am selling it now, To avoid capital gains i would needed to lived in the property for 2 years (which i have), but it also says owned it for 2 years. Does the time my mother owned it prior to the quitclaim transfer count toward the 2 year ownership requirement?

Re: Quitclaim with prio residency

Mike9241 — Fri, 14 Oct 2022 00:11:22 GMT

No.

Re: Quitclaim with prio residency

Carl — Fri, 14 Oct 2022 15:30:59 GMT

No, because *you* have not legally owned the property for at least two years.

Also, since she was alive when it was quit claimed to you, your cost basis will be your mother's cost basis since it was most likely less than the FMV at the time it was quit-claimed to you.