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Related Real Estate Law Questions
If I purchased investment property that was 100% land for
If I purchased investment property that was 100% land for $200k and then sold to my mother for $75k, the transaction is not a deduction for me on my personal tax return. I hold the mortgage for my mot… read more
Barrister
Barrister
Lawyer
Doctoral Degree
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My elderly parents are divorced for over 20 years but still
My elderly parents are divorced for over 20 years but still own the marital residence they lived in. My father is remarried and buying a home. Both my parents wish to leave this jointly owned residenc… read more
Ray
Ray
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Doctoral Degree
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We are trying to determine my mom's tax liability if she
We are trying to determine my mom's tax liability if she were to sell her house in Oregon. My parents built it in About 1972 for $27,000. They put about. $15,000 in improvements. The house was paid of… read more
Irwin Law
Irwin Law
Juris Doctor JD
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My mom owns her primary residence and a rental property(our
My mom owns her primary residence and a rental property(our old house) in a living trust. My mom has a late stage cancer and we are hoping for the best but preparing for the worst.How does a death aff… read more
Attyadvisor
Attyadvisor
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Greetings! I am living in Texas. My mom wants to give me her
Greetings! I am living in Texas. My mom wants to give me her house? beside property taxes, do I have to pay any other taxes like gift tax? my friends told me, I don't have to pay anything until I sell… read more
J. Warren
J. Warren
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We inherited a tri-plex in CA. In 2010. It was appraised at
We inherited a tri-plex in CA. In 2010. It was appraised at the time for $750,000. We have just sold it for $1,443,000. We would like to do a 1031 exchange on a small amount of approx. $175,000. It's … read more
Barrister
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My mother just passed away. Her will states that everything
My mother just passed away. Her will states that everything in her estate is to be split amongst the 3 daughters. She only has her home. One sister wants to buy the home from the other two. What is th… read more
Richard
Richard
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a Mom and Dad transfered to 3 children, property and house
a Mom and Dad transfered to 3 children, property and house with quit claim covenants, while retaining a life estate to Mom and Dad. Mom and Dad want to sell the house. No one is opposed to this. quest… read more
Barrister
Barrister
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Doctoral Degree
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My elderly Mom purchased a Florida house ($230 cash) for me
My elderly Mom purchased a Florida house ($230 cash) for me a little over 2 yrs ago. Due to circumstances at the time we didn't put my name on it. Now it I am able to put my name on the house. If we r… read more
Barrister
Barrister
Lawyer
Doctoral Degree
12,142 satisfied customers
My mom owns her house worth 200k min. She owes 42K of mortgage.
My mom owns her house worth 200k min. She owes 42K of mortgage. She wants to give it to me & my brother. Put it in our name, she wants to stay in the house till she dies; however she wants us to get a… read more
Barrister
Barrister
Lawyer
Doctoral Degree
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I plan to sell a rental house in Illinois() and use the bulk
I plan to sell a rental house in Illinois(I am In Texas) and use the bulk of the proceeds for my daughters college education. Is there a vehicle I can use to reduce capital gains on this transaction? … read more
Loren
Loren
35,909 satisfied customers
My husband and I had a very close friend (like a mom), who
My husband and I had a very close friend (like a mom), who had no other family. Prior to her death, she put her home in our name. She died 10 years ago and we have been renting the house for the major… read more
Richard - Bizlaw
Richard - Bizlaw
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My mother in Indiana is selling her farm. She is a 78 yrs old
My mother in Indiana is selling her farm. She is a 78 yrs old widow. She will sell 150 acres and keep 10 acres with her old (decent shape) 3400 sq ft farm house. She does have a yearly income of $33,0… read more
LawTalk
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I live in California and am buying a home for my son in Bremerton,
I live in California and am buying a home for my son in Bremerton, WA. He will pay the mtg, taxes, etc. He eventually wants to own this home and hopes to pay down the mortgage as fast as he can ($70,0… read more
Loren
Loren
35,909 satisfied customers
We have a rental property (duplex) that weve owned for 30
We have a rental property (duplex) that we've owned for 30 years, but would like to dispose of. My CPA keeps saying we should keep it, sell it on an installment basis, or wait for one of us to die bef… read more
mkc1959
mkc1959
Attorney
Doctor of Jurisprudence
616 satisfied customers
my sister has a condo that she was in the process of selling
my sister has a condo that she was in the process of selling for a cheap price 70,000 since she has lost her main income to survive.(worth approx 80,000). She also owns another condo in this same dupl… read more
Ray
Ray
Lawyer
Doctoral Degree
8,253 satisfied customers
my aunt passes away and in her will she left my dad is 1/2
my aunt passes away and in her will she left my dad is 1/2 of a property and my other aunt the other. We want to buy her out but she wants what the property was worth in 2008 which was 100k more. Is t… read more
Legal Eagle
Legal Eagle
Attorney
Doctoral Degree
538 satisfied customers
Hello, I own a home in California with no mortgage (paid cash
Hello, I own a home in California with no mortgage (paid cash in 2005) I paid 420,000 for it and that is the tax base. The home just below me on the same size land just sold for 303,000. I would like … read more
Jane Doe Deer
Jane Doe Deer
Attorney
Post-Doctoral Degree
3,870 satisfied customers

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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).

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LawTalk

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I have 30 years legal experience. Additionally, in CA I held a Real Estate Broker's license.

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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).

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