What is the tax base for a quit claim deed?

The tax base for a “true” quit claim deed is the consideration given.  However, tax is due on the fair market value of the property when the language in the document shows intent to convey the property itself, or gives warranty, rather than a mere chance of title.  Examples of such language include, but are not limited to: 

  • “to have and to hold” (habendum clause)
  • “in fee simple (absolute)”
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