Quit Claim Deed - To avoid capital gains tax?
Similar post from before...but would this legally work?
I co own a property with my brother (75/25) on title. I've been living there for 2 years now. He lives in his own primary. We want to sell and hold the funds for a bigger property 1 year from now.
For him to avoid capital gain taxes, should we do a quitclaim deed for him to be removed from the title so I can recognize the full gains?
Pros? Cons?
Any feedback is appreciated. Thanks!