Selling a home by assuming the mortgage
Hey everyone, does anyone have experience with "selling" their home where someone assumes your mortgage rather than selling for a profit? My investor friend has a lease option on my property to assume my mortgage and property so she can get the terms, while giving me $30,000 over two years for the option to assume my mortgage and property. She gave me $15,000 last year and the other half this year and will be assuming my mortgage. My question is what are the tax implications of this? What taxes do I owe if she only assumes the remainder of my mortgage vs selling the property to her the traditional route?