Gift Of Equity 2010 Gifting Real Estate To Grandchildren - Do I Need To Add Their Names To The Deed?

Gifting real estate to grandchildren - do i need to add their names to the deed? - gift of equity 2010

I live in California and owns a property with equity. I would like a gift of equity in increments of $ 12,000 per year take my grandchildren for the benefit of the taxpayer relief act, tax-free. My grandchildren are) are not on the deed, but his parents (my daughter and her husband.

Q1: Can I's Equity $ 12,000 gift limit provides the taxpayer relief act?

Q2: Is it necessary, the names of my grandchildren in the capacity I want to trade a gift?

Q3: Does each account gift of $ 12,000 against my life inheritance tax exclusion limits?

Q4: Do I need to file a form 709 donations, even if the gifts are in the limit of $ 12,000 exempt from tax?

P5: the literature of the IRS, said that the exclusion of property taxes in 2010 be repealed and I pay taxes on the donation amount in 2010?

Thank you!