Estate Law

Estate law questions? Ask an estate lawyer.

Ask a Lawyer,
Get an Answer ASAP!

Selling my parents home,base was 220000 at death, sold it on…

Customer Question
Selling my parents home,base was...
Selling my parents home,base was 220000 at death, sold it on land contract,on going, for 169000 here's th question, I am making money from the contract,it not reach the 220000'so am I going to in trouble with irs?
Submitted: 2 years ago.Category: Estate Law
Show More
Show Less
Ask Your Own Estate Law Question
Answered in 34 minutes by:
1/23/2016
Estate Lawyer: Richard, Attorney replied 2 years ago
Richard
Richard, Attorney
Category: Estate Law
Satisfied Customers: 57,229
Experience: 29 years of experience practicing law, including tax and estate planning.
Verified

Good evening. My name is ***** ***** I look forward to helping you.

Can you clarify the facts for me? When you say you are "making money from the contract," are you referring to the $169,000 contract price? Or, something else? Thanks.

Ask Your Own Estate Law Question
Was this answer helpful?

How JustAnswer works

step-image
Describe your issueThe assistant will guide you
step-image
Chat 1:1 with an estate lawyerLicensed Experts are available 24/7
step-image
100% satisfaction guaranteeGet all the answers you need
Ask Thomas McJD Your Own Question
Thomas McJD
Thomas McJD
Thomas McJD, Attorney
Category: Estate Law
Satisfied Customers: 3,170
3,170 Satisfied Customers
Experience: Wills, Trusts, Probate & other Estate Matters

Thomas McJD is online now

A new question is answered every 9 seconds

How JustAnswer works:

  • Ask an ExpertExperts are full of valuable knowledge and are ready to help with any question. Credentials confirmed by a Fortune 500 verification firm.
  • Get a Professional AnswerVia email, text message, or notification as you wait on our site. Ask follow up questions if you need to.
  • 100% Satisfaction GuaranteeRate the answer you receive.

JustAnswer in the News:

Ask-a-doc Web sites: If you've got a quick question, you can try to get an answer from sites that say they have various specialists on hand to give quick answers... Justanswer.com.
JustAnswer.com...has seen a spike since October in legal questions from readers about layoffs, unemployment and severance.
Web sites like justanswer.com/legal
...leave nothing to chance.
Traffic on JustAnswer rose 14 percent...and had nearly 400,000 page views in 30 days...inquiries related to stress, high blood pressure, drinking and heart pain jumped 33 percent.
Tory Johnson, GMA Workplace Contributor, discusses work-from-home jobs, such as JustAnswer in which verified Experts answer people’s questions.
I will tell you that...the things you have to go through to be an Expert are quite rigorous.

What Customers are Saying:

My husband has been driving me insane with questions regarding estate issues since his mother died. I'm not a lawyer! Thanks to JustAnswer, I was able to calm his concerns.

Loretta TIllinois

Thanks Adam!! - A very direct and understandable response - you have been a great help!

Happy CustomerEllicott City, MD

Mr. Kaplun clearly had an exceptional understanding of the issue and was able to explain it concisely. I would recommend JustAnswer to anyone. Great service that lives up to its promises!

Gary B.Edmond, OK

My Expert was fast and seemed to have the answer to my taser question at the tips of her fingers. Communication was excellent. I left feeling confident in her answer.

EricRedwood City, CA

I am very pleased with JustAnswer as a place to go for divorce or criminal law knowledge and insight.

MichaelWichita, KS

PaulMJD helped me with questions I had regarding an urgent legal matter. His answers were excellent.

Three H.Houston, TX

Anne was extremely helpful. Her information put me in the right direction for action that kept me legal, possible saving me a ton of money in the future. Thank you again, Anne!!

ElaineAtlanta, GA

< Previous | Next >

Meet the Experts:

Thomas McJD

Thomas McJD

Attorney

3,170 satisfied customers

Wills, Trusts, Probate & other Estate Matters

Barrister

Barrister

Attorney

5,908 satisfied customers

17 yrs estate law, real estate. Wills/Trusts/Probate

RayAnswers

RayAnswers

Attorney

5,629 satisfied customers

Texas lawyer for 30 years in Estate law

Infolawyer

Infolawyer

Attorney

5,145 satisfied customers

Licensed attorney helping individuals and businesses.

Ely

Ely

Counselor at Law

1,867 satisfied customers

Fully licensed attorney in Texas in private practice.

RobertJDFL

RobertJDFL

Attorney

1,522 satisfied customers

Experienced in multiple areas of the law.

P. Simmons

P. Simmons

Attorney

1,215 satisfied customers

12+ yrs. of experience including estate law.

< Previous | Next >

Related Estate Law Questions
My sister died on May 20,2018. Her home in California is in
My sister died on May 20,2018. Her home in California is in a revocable family trust and i'm a co-successor trustee with my brother. We both are sole beneficiaries of the trust. We plan on selling the… read more
LegalGems
LegalGems
Juris Doctorate
12,817 satisfied customers
Here's my question, my "sister" has a deed in her name for
Here's my question, my "sister" has a deed in her name for home and land with the legal description stating Life Estate of "parents" with "me" listed as remainder of interest. The will states when our… read more
Infolawyer
Infolawyer
Attorney
Doctoral Degree
5,145 satisfied customers
When someone passes and leaves investment account assets, is
when someone passes and leaves investment account assets, is the value of the acct at the person's date of death used for beneficiary distribution purposes, or is the date of distribution the date of … read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
I'm looking for a lawyer to help me with a property
Hello, I'm looking for a lawyer to help me with a property inheritance question. The property is in Florida.… read more
Barrister
Barrister
Attorney
Doctoral Degree
5,908 satisfied customers
My mom has a Tahoe vacation home wherein the land was
My mom has a Tahoe vacation home wherein the land was purchased using a 1031 exchange (home built on this land within 2years of purchase) for property my parents owned on the central California coast … read more
DamienJD
DamienJD
Attorney
Doctoral Degree
5,391 satisfied customers
If two siblings inherited land after their parent passed and
if two siblings inherited land after their parent passed and one is wanting to sell and the other is not wanting to sell, what are the options for the sibling not wanting to sell. The original agreeme… read more
Dwayne B.
Dwayne B.
Juris Doctor
28,766 satisfied customers
If a parent has a living trust naming one adult child to handle
If a parent has a living trust naming one adult child to handle the sale of a home upon the parents death and another adult child does not inform the appointed child of the death of the parent and sel… read more
Attorney2020
Attorney2020
Lawyer
2,480 satisfied customers
My parents are trying to sell their home in VA that was deeded
My parents are trying to sell their home in VA that was deeded to my dad only and the land was heir property but the rest of the family couldn't afford the upkeep and taxes so they all signed the prop… read more
TJ, Esq.
TJ, Esq.
Juris Doctor (JD)
11,463 satisfied customers
parents died in december 2010. didnt leave will on house.
parents died in december 2010. didn't leave will on house. i hired lawyer and in may 2011 judge said house was mine. i auction and sold house in may 2012. house initially was bought for 12,000 and sol… read more
Thomas Swartz
Thomas Swartz
Attorney
Juris Doctor
2,902 satisfied customers
Our family of 8 siblings inherited 36 acres of land in
Our family of 8 siblings inherited 36 acres of land in Midway Texas. This equates to roughly 4.2 acres for each sibling. One brother died a couple of years ago and it was determined that he owed an ou… read more
RayAnswers
RayAnswers
Attorney
Doctoral Degree
5,629 satisfied customers
As trustee can I give each of the siblings (named by my mother-in-law) $10,000,
As trustee can I give each of the siblings (named by my mother-in-law) $10,000, each year. If so is this retroactive back to last year when the land was sold? The money is from the sale of land in Ill… read more
socrateaser
socrateaser
1,031 satisfied customers
The lawyer that answers my question must have experience in
The lawyer that answers my question must have experience in estate law, when it comes to selling individual estate collection items online. Our family has inherited 1000's of airplane model kits, trai… read more
Dimitry Esquire
Dimitry Esquire
Attorney at Law
Doctoral Degree
113 satisfied customers
My brother and I inherited a farm in Washington state from
My brother and I inherited a farm in Washington state from our parents when they died. it was split 50-50 between the two of us. My brother and his wife have lived on the property until my brother's r… read more
lwpat
lwpat
Doctoral Degree
256 satisfied customers
In a estate distribution you two beneficiaries everything to
In a estate distribution you two beneficiaries everything to be divided in equal shares. theres 80000 dollars in a bank and two houses.One house appraised at 220000 the other at 160000. Both beneficia… read more
Daniel P.
Daniel P.
Managing Attorney
Juris Doctor
2,741 satisfied customers
In our situation - the Family limited partnership owns 10,000
In our situation - the Family limited partnership owns 10,000 of land. The General partner owns 90% of the FLP. He is 76 yrs old. Upon his death, I estimate the death tax to be $11 million. Land being… read more
Daniel P.
Daniel P.
Managing Attorney
Juris Doctor
2,741 satisfied customers
We have a tax lien on our inherited land since it was valued
We have a tax lien on our inherited land since it was valued for agricultural use. How many years from the time it is filed (or is it from the time our father died) before it can be released and sold … read more
Brent Blanchard
Brent Blanchard
Solo Practitioner
Doctoral Degree
1,964 satisfied customers
Part of my Dads land was sold with POW, He passed before closing.
Part of my Dads land was sold with POW, He passed before closing. Myself and brother do not want to sell. The lawyer is the excecutor, wrote up contract anyway. Buyer is threatning to sue us for conti… read more
Roger
Roger
Litigation Attorney
Doctoral Degree
26,939 satisfied customers
When My parents died, they did not leave a will. They had ...
When My parents died, they did not leave a will. They had 38 acres of land and a small house that was left to us three children as a whole in our three names to be deeded to us after the two of them w… read more
FiveStarLaw
FiveStarLaw
Attorney
Doctoral Degree
477 satisfied customers

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

DISCLAIMER: Answers from Experts on JustAnswer are not substitutes for the advice of an attorney. JustAnswer is a public forum and questions and responses are not private or confidential or protected by the attorney-client privilege. The Expert above is not your attorney, and the response above is not legal advice. You should not read this response to propose specific action or address specific circumstances, but only to give you a sense of general principles of law that might affect the situation you describe. Application of these general principles to particular circumstances must be done by a lawyer who has spoken with you in confidence, learned all relevant information, and explored various options. Before acting on these general principles, you should hire a lawyer licensed to practice law in the jurisdiction to which your question pertains.

The responses above are from individual Experts, not JustAnswer. The site and services are provided “as is”. To view the verified credential of an Expert, click on the “Verified” symbol in the Expert’s profile. This site is not for emergency questions which should be directed immediately by telephone or in-person to qualified professionals. Please carefully read the Terms of Service (last updated February 8, 2012).

Show MoreShow Less

Ask Your Question

x