How Do I Transfer Land Ownership to Children in Louisiana?

By Marcy Brinkley

If you want to transfer land located in Louisiana to your children, you must do so in writing or the transfer will not be legal. Discuss the transaction with your children to determine if they want the land; the transfer should not be a surprise. You may list them as joint tenants with right of survivorship with you, which means all of you own the property while you are alive and only the children own it after your death. Or, if you want no ownership rights any longer, you can sign it over to them. In either situation, you will need to execute a new deed. In Louisiana, deeds must be notarized and recorded in the parish records.

If you want to transfer land located in Louisiana to your children, you must do so in writing or the transfer will not be legal. Discuss the transaction with your children to determine if they want the land; the transfer should not be a surprise. You may list them as joint tenants with right of survivorship with you, which means all of you own the property while you are alive and only the children own it after your death. Or, if you want no ownership rights any longer, you can sign it over to them. In either situation, you will need to execute a new deed. In Louisiana, deeds must be notarized and recorded in the parish records.

Considerations

Transferring land to your children can be complicated in certain situations, especially if your property is valuable. You should consider hiring an attorney or an online legal document provider to handle the paperwork. Even in relatively simple transfers, you may run into problems if you are over the age of 60 and there is concern the transfer may have been caused by your children taking unfair advantage of you. For example, if you have four children but transferred land only to John and Susan, the other two might worry that John and Susan influenced you -- or even forced you -- to transfer the property to them. While you are free to make any gifts you want, the government has a duty to investigate the situation if they receive a complaint of possible elder abuse. Consulting an attorney helps to show the gift was not made due to undue influence.

Protect your loved ones by a legally binding will. Make a Will Online Now

Deed

A warranty deed guarantees there are no liens, mortgages or claims from third parties that encumber the land. A quitclaim deed, on the other hand, simply transfers your interest in the land to your children without guarantees. Most real estate transactions use a warranty deed. If you prepare your own deed, you must include the legal names of the seller and buyers and legal description of the property. You can find the legal description on your current copy of the deed. If you do not have a copy, request it from the land records office in your parish. The deed must be signed in the office of a notary public.

Taxes

Consider possible tax consequences when you sell or give land to your children. Louisiana law requires you to include the sales price and mortgage amount, if any, in your deed. Since the Internal Revenue Service allows you to give only a certain amount to any individual each year without paying a gift tax, you should consider consulting a tax professional to assist you. Whether you give the property to your children at no cost or ask them to buy it for less than fair market value, the IRS considers the transfer a gift. However, unless the property is located in New Orleans, you will not be required to pay local or state transfer taxes. New Orleans charges a flat "documentary tax" for recording deeds, mortgages and other documents. Whether you give the land to your children or sell it to them, the documentary tax will be the same amount.

Recording

You are required to record the deed in the parish where it is located. These are public records that notify others who owns the property. In most parishes, the Clerk of Courts handles the recording process. The larger parishes have separate departments that handle that function. Since recording rules may vary widely, contact the clerk to ask about recording fees and requirements. Take the original deed to the courthouse, pay the required fee and submit the deed for recording. You may request a certified copy of the deed at that time.

Protect your loved ones by a legally binding will. Make a Will Online Now
Filing a Quit Claim Deed in Florida After a Divorce

References

Related articles

How to Record a Trust Transfer Deed

Trust Transfer Deeds are used to create revocable living trusts. These legal devices transfer property a donor owns into the trust he creates. The donor would retain control of the property, as a trustee, and is subject to all relevant obligations of that position. Many states require that any documentation involving the transfer of real estate, including trust transfer deeds, be recorded at the local recorder’s office. The recorder’s office is the centralized location for a county’s public records.

How Is a Corporation Passed to Heirs?

Although the actual process of transferring a corporation to your heirs may be relatively easy, choosing a method of transfer and evaluating the ramifications can be difficult. Before you begin, you should meet with your heirs and your accountant to explore your options for transferring your corporation.

How to Transfer Property to an LLC

For a number of reasons, you may choose to transfer real estate or other property into an LLC. You may decide to change your business structure from a sole proprietorship to an LLC formed by yourself and your spouse, or you may want to transfer a second home or a vacation rental home to your LLC. Whatever your reasons, the transfer of property to your LLC should be relatively painless.

LegalZoom. Legal help is here. Start Here. Wills. Trusts. Attorney help.

Related articles

How to Sell Inherited Land

The process of selling inherited property is very similar to selling property you acquire through a purchase. Once the ...

How to Transfer a Deed to an LLC

People often form an LLC or limited liability company to protect their personal assets from attachment. If you own ...

How to Transfer Property to an Irrevocable Trust in Pennsylvania

During the estate planning process, an individual known as the settlor may choose to establish and place select assets ...

Can a Divorce Decree Be Used in Lieu of a Quit Claim in Ohio?

When a judge issues a divorce decree, he usually specifies how personal property and real estate should be divided ...

Browse by category