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| *Loan,banking and credit>>>child tax |
What is the best way to transfer property from an elderly parent to thier children with out paying tax? |
What is the best way to transfer property from an elderly parent to thier children with out paying tax? a Quit Claim Deed ............ report it as a gift? coownership In California, they simply have to give it to them. Transfers between parent and child do not prompt an increase in your property tax. Just make sure someone actually files a title change for you. Gifting I would check with your real estate attorney. Such transactions, as a former title insurance employee, can be tricky. My husband and I live in Ohio. His mother arranged a life estate with us. We avoided taxes up front but now when we go to sell there will be taxes. Experience. |
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