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How Do I Transfer Property Title To Family Members In California? Grant deeds: These deeds transfer an owner's interest in a property and indicate the percentage of interest being transferred. Quitclaim deeds: These deeds are used to transfer real property with an unrecorded or recorded interest.

In 2019, the District of Columbia enacted the Recordation and Transfer Taxes Amendment Act of 2019[1], which increased both the Real Estate Deed Recordation Tax and the Real Property Transfer Tax on the transfer and recordation of certain commercial and mixed-use real property from 1.45% to 2.5%.

All signatures must be notarized, and all deeds must be recorded at the DC Office of Recorder of Deeds. Recording (Title 42, Chapter 4) ? Must be submitted to the D.C. Office of Recorder of Deeds with the required recording fees. Signing (§ 42?818.02) ? All deeds must be signed in the presence of a notary.

Adding a family member to the deed as a joint owner for no consideration is considered a gift of 50% of the property's fair market value for tax purposes. If the value of the gift exceeds the annual exclusion limit ($16,000 for 2022) the donor will need to file a gift tax return (via Form 709) to report the transfer.

1.1 % of consideration or fair market value for residential property transfers less than $400,000 and 1.45% of consideration or fair market value on the entire amount, if transfer is greater than $400,000.

Recording a deed establishes your ownership interest over another's claim of ownership should there be conflicting claims against the property. Each state has its own recording statute that gives priority to those who record their interest in real property over those who don't.

DC ST § 47-1433(c) - a $250.00 penalty is due for all Deeds of Title that are submitted for recording later than (30) thirty calendar days from its execution date.