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"The Home Gardners came highly recommended."
"I had just lost my husband and had to make a quick move to another state with my four small children. I needed to sell my new home (which was in the midst of construction) and it was going to be a difficult task. The Home Gardner team came very highly recommended by several people and I'm so glad I made that choice. They've been extremely supportive and highly efficient throughout the entire transaction. What more can I say, they were God sent. Thank you "Home Gardners"!
Donae McGrath
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Tax Considerations >Not at ARMs Length
A sale of a house is just a sale, right? Not necessarily. If you are selling your house to your children or transferring title outside the open market, then the transaction may be characterized as "not at arm's length". Since such a transfer may have tax consequences, you should discuss it with a tax attorney or accountant before taking action.
The transfer of title to a son or daughter may cause the parents to lose favorable property tax treatment, require the payment of state gift taxes, or have other unexpected consequences. From a capital gains point of view, it may be more prudent for children to inherit property than to receive it as a gift. The disposition of any real estate should be considered within the entire framework of your tax and estate planning.
For answers to all your real estate questions, consult experienced professionals who are familiar with this area.
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What is encroachment, and how might it affect a property owner?
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Encroachment, refers to the unauthorized intrusion of a building or improvement onto another person's property; it often requires a surveyor's report to support the claim. |
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