Parents private loan financing

[DuRon Netsell]

Alright, so my situation is Monday I will be making an offer on an HUD foreclosure with full cash that my mother is giving me from a mutual fund that was to be my inheritance(60K).

My agent has suggested that my mom buys the house with a general warranty deed with both of our names on the title. This seems like a easy, simple solution and would like to know your thoughts about that.

Another the other hand my mom thinks that she could just give me all the money through an IRS Form 709 and then I buy the house with just my name on the title. Is she able to do this without unnecessary tax consequences?

From what little i know, have read, and heard these both seem like viable options.

Do you guys agree or disagree and/or have another alternatives/solutions?

Also, i realize the best thing to do is to contact a Tax or Real estate attorney but i am not able to speak with one until Monday morning and am just looking to get some quick information and opinions from knowledgeable sources.

Thanks,
DuRon