My mother who is a US Citizen recently passed, and my step father who is a Canadian citizen with permanent US resident who is living in Canada now with no plans of returning to the US. He doesn't want anything to do with the property, and wants to sign a quit claim deed over to me. The current balance owed is only 78,000 US, with the real value probably in the 240,000 US range. Would there be a tax implication for him in the US or Canada if he signs the rights over to me?

  • As far as I understand it, he can't just "sign a quit claim deed over" to you or anyone else because he doesn't hold title to the property - the mortgage company does. There would need to be some process where you take over or refinance the mortgage. – brhans Nov 12 '18 at 20:22
  • as I understand it with a death certificate and a quit claim from him I can then remove him from the deed and refinance in my name...is that not correct? – Jeremy Nov 13 '18 at 2:32

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