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Roger, Lawyer
Category: Real Estate Law
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When I sell my house to my son, if I give him a Gift of Equity,

Resolved Question:

When I sell my house to my son, if I give him a Gift of Equity, will there be any tax consequences for me?
Submitted: 5 years ago.
Category: Real Estate Law
Expert:  Roger replied 5 years ago.
Hi - my name is XXXXX XXXXX I'm a Real Estate litigation attorney here to assist you.

No. If you gift a piece of property to someone and do not receive money as a result, you don't owe anything in taxes.

The only tax due is capital gains, which is any money over and above what you paid for the property. If there I'd no money, there is no tax.
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