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Tina, Lawyer
Category: Real Estate Law
Satisfied Customers: 5436
Experience:  17 years of legal experience including real estate law.
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My father died in 2010, I lived with him since 2007. I remained

Customer Question

My father died in 2010, I lived with him since 2007. I remained in the home till 2015. In his will, the home was left to his children. The will was probated, ended in 2012.
I sold the home in 2015 for $155,000.00, proceeds being divided between heirs.
I have been told, if house would of been sold during probate, there would have been no capital gains to pay. However, since I remained in home till 2015, now each heir has to pay capital gains. Is this true?
And I've been told due to me remaining in house over 2 years, it sold for less than $250,000.00, that I am exempt from capital gains. Is this true?
Submitted: 1 year ago.
Category: Real Estate Law
Expert:  Richard replied 1 year ago.
Good morning. My name is ***** ***** I look forward to helping you. Can you provide me a bit more information? What was the value of the house in 2012? Thanks.