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To make a long story short. Twenty years ago, went through a nasty divorce. Put a pice of property in my sister's name and i have made all payments, both taxes and etc. i don't even think my sister registered it on our assts or taxes but don't know for sure. She said she had it in her will for it to be given to me. Now as things happen, we don't speak and i feel very uneasy, would like for her to put back in my name. Woud there be any problems or taxes that i would have to pay rather than waiting for it to be given to me upon her death?:ohno:
 

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Techincally, she would have to report it as a taxable gift to you (for the amount in excess of the $12,000 annual gift tax exclusion) on Form 709. If the gift plus past gifts doesn't exceed $1 million then it would just use up some of her lifetime gift and estate tax exemption.

Now, can you actually convince her to do a quit claim deed to you?
 

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Quick Claim deed

Coyld you please explain a quick Claim Deed? If it was not disadvantageous to her,probably so. :icon_conf
 

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